With an eye on Dalit votes in the mega battle for Uttar Pradesh early next year, Prime Minister Narendra Modi launched his "Stand up India scheme" today to promote entrepreneurship among Scheduled Castes and Tribes and Women with easier loans, from that state.
PM Modi's choice of venue - Noida in Uttar Pradesh - and the presence at the launch of 17 Dalit lawmakers of his BJP indicate that the party is aggressively pursuing the Dalit vote, a crucial 20 per cent of the state's total voters.
Invoking Dalit icon Babu Jagjivan Ram in his address at the inauguration ceremony, PM Modi said, "Today is Jagjivan Ram's death anniversary. He never let his Dalit background stop him. That's why we have chosen this day to launch stand up India."
Under the scheme, "1.25 lakh banks will loan money to 1.25 lakh young people from marginalised communities," the Prime Minister said. "Every branch of every bank will ensure that a woman, a Dalit person or a tribal will be given a loan."
The "Stand up India Scheme" will help members of Scheduled Castes and Tribes and Women get loans of between Rs. 10 lakh and Rs. 1 crore for their non-farm businesses. The scheme proposes to leverage the institutional credit structure to reach out to these under-served sectors of the population by facilitating bank loans.
Borrowers will be provided a debit card called RuPay to enable them to withdraw working capital. The government will also, through the Small Industries Development Bank of India or SIDBI, open a refinance window with an initial amount of Rs. 10,000 crore.
Prime minister Narendra Modi, UP governor Ram Naik, finance minister Arun Jaitley and Jayant Sinha at the launch of Stand Up India and distribution of E-Rickshaws, in Noida
On the occasion, the government also distributed 5,100 e-rickshaws and launched a mobile application under which one can order an e-rickshaw through RuPay Card and Jan Dhan.
"Before launching Stand Up India, I got an opportunity to interact with rickshaw pullers and their families over a Chai Per Charcha," PM Modi said. "This will help you earn better."
Prime Minister Narendra Modi rides in an e-rickshaw during distribution of e-rickshaws under Pradhan Mantri Mudra Yojana launched under Stand up India Scheme in Noida
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