Assam government today launched an 'Angel Fund' to help first generation entrepreneurs of the state to start business start-ups. The fund was launched by Assam chief minister at a conference of general managers of District Industries and Commerce Centres (DICCs)A maximum loan amount of Rs 5 lakh at 5 per cent interest per annum would be extended for setting up new micro enterprises from this fund.
The loan would have moratorium period of maximum 10 months. Moreover, 80 per cent of the project cost for existing units and 85 per cent for new units without mortgage would be extended under this fund. Assam's chief minister had announced to launch the 'Angel Fund' in his 2013 budget speech. The state government earlier announced that it had earmarked a sum of Rs 12 crore for the 'Angel Fund'.
"Our government will raise the maximum loan amount under the scheme from the existing Rs 5 lakh so that the young entrepreneurs can go in for expansion of their businesses in a big way. Today's unveiling of the scheme is just a beginning. We have to go on a Mission Mode for the overall growth of the MSME sector in the State," said Gogoi.
Gogoi stressed on the need for proper counseling of the first generation entrepreneurs so that they could manage their business affairs efficiently enabling them to make repayment on time. "As the first generation entrepreneurs would be making foray into trade, they need proper guidance for managing their venture successfully," he added.
The chief minister also announced a special scheme for the traditional and indigenous industries in the state. "Our Government will come up with a new scheme to promote the traditional industries such as bell metal, shital-pati, ornaments, bamboo, handloom and handicrafts. We will reach out to the artisans engaged in traditional industries in a big way," he said.
Gogoi said Assam had made significant progress in different sectors despite the bandh syndrome in the state. "The bandh culture has adversely affected the economy of the state by putting a spanner in the wheels of development. If the wheels of development come to a halt, how can one generate resources and employment? The advocates of the bandh culture must ponder over this," he quipped.
Assam's industries and commerce department had recently conducted a resource mapping in the state to identify the industries that can grow based on the locally available raw materials and to create a pool of skilled manpower required for the industries. "Plans are on the anvil to develop the inherent skills in our youths and to enhance their capacity building through multi-disciplinary skill development programme," added Pradyut Bordoloi, Assam industry minister.
Bordoloi said the department would set up multidisciplinary skill development training centre in each of the 219 development blocks in the state. "We have identified about 50 skilled disciplines that are in great demand," he said.The department of industries and commerce of Assam has partnered Assam Gramin Vikas Bank (AGVB) as the financial institution for this fund.
