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The Govt Is Launching A VC Fund For Scheduled Castes Now

The Govt Is Launching A VC Fund For Scheduled Castes Now

The Government seems to favour SC entrepreneurs and traders and in it’s next social scheme it is soon going to launch a new venture capital fund exclusively targeting budding and existing entrepreneurs from Scheduled Castes. Starting with INR 250 Cr., the fund is aimed at giving a push to business ownership in the traditionally marginalised communities, say reports.

Each entrepreneur from Scheduled Caste can borrow from the fund a minimum of INR 50 lakh and a maximum of INR 15 Cr. The money will be in the form of equity linked debt in the business.

The Social Justice Ministry has cleared the fund while the Industrial Finance Corporation of India (IFCI) will be rolling it out in the market and has also added INR 50 Cr. to it.

Looking at the condition of SC and other such classes in business, it seems that this will prove to be a successful move towards the betterment of these sections of society. The Social Justice Ministry has estimated that this year around 50 entrepreneurs belonging from these classes will get the benefit from this scheme due to less number of entrepreneurs from this category.

But this move serves as a hinderance on the opportunity justice for the general section.

This has been a topic of heated debate over the ages and numerous questions have been raised regarding these kind of special initiatives. There cannot be a valid conclusion to this debate but like always there has been dispute and clashes among different sections of society whenever a move like this is made by the government. Only time will tell what kind of reaction this new fund will generate.


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Inc42 Staff

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