Assam\'s CM Tarun Gogoi unveils angel fund for first-time entrepreneurs
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2014-09-20

Assam\'s CM Tarun Gogoi unveils angel fund for first-time entrepreneurs

Under this special fund, a maximum loan amount of Rs 5 lakh at 5 per cent interest per annum will be extended to first generation entrepreneurs.

Assam Chief Minister Tarun Gogoi on Friday unveiled an ‘Angel Fund’ to help first generation entrepreneurs and skilled youths to set up micro and small enterprises in Assam, states a PTI report.


Under this special fund, a maximum loan amount of Rs 5 lakh at 5 per cent interest per annum will be extended to first generation entrepreneurs. No interest will be charged during the moratorium period for a maximum period of 10 months.


The Chief Minister said that the State Government would increase the maximum loan amount under the scheme so that first generation entrepreneurs and skilled youths engaged in traditional industries expand their businesses in a big way.

 

Gogoi stressed on the need for proper counselling of these entrepreneurs so that they could manage their business affairs efficiently enabling them to make repayments on time.

 

Speaking on the occasion, Minister for Industries and Commerce Pradyut Bordoloi said his department had conducted resource mapping in the State to identify the industries that can grow based on locally available raw materials and to create a pool of skilled manpower required for the industries.

 

He said the department would set up multidisciplinary skill development training centre in each of the 219 development blocks in the State. About 50 skilled disciplines that are in great demand had been identified by the department for the purpose.
Giving an overview of the industrial scenario in the State in the past three years, Additional Chief Secretary, Industries and Commerce, R.T. Jindal said that the there had been investments to the tune of Rs 1,774 crore in the MSME sector in the past four years.

 

A MoU (memorandum of understanding ) was signed by the Commissioner and Secretary, Industries and Commerce, Rajesh Prasad on behalf of the State Government and Chairman, Assam Gramin Vikash Bank, Shio Shankar Singh on the operation of the Angel Fund scheme in the presence of Gogoi and Bordoloi.

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