HOWIF supports Sustainable Development Goals

Goal 8: Promote inclusive and sustainable economic growth, employment and decent work for all

Government of India Initiatives

By the end of 2030, every citizen of the country, male or female, including persons with disabilities should have decent work contributing towards the GDP of the country.
India’s MSMEs are likely to play a greater role than before in achieving this Goal of holistic, sustainable and inclusive growth. To meet this target, government has initiated several programmes for generating employment opportunities, enhancing skill development and accelerating economic growth for the masses.
Prime Minister’s Employment Generation Programme (PMEGP), a central sector scheme administered by the Ministry of Micro, Small and Medium Enterprises, aims to generate employment opportunities by establishing micro enterprises in rural as well as urban areas. It is a credit linked subsidy programme where Self Help Groups registered under Societies Registration Act, 1860 are eligible for subsidies to set up projects under PMEGP.
Start-up India was launched by the government to foster an environment for nurturing innovation and start-ups in the country, aimed at driving economic growth and generating large scale employment opportunities. The scheme facilitated bank loans between Rs.10 lakh and Rs.1 Crore, from Scheduled Commercial Banks (SCBs), to at least one Scheduled Caste (SC) or Scheduled Tribe (ST) and one woman, per bank branch, for setting up a Greenfield enterprise in trading, services or the manufacturing sector. The scheme is expected to benefit at least 2.5 lakh borrowers.
Skill India seeks to provide institutional capacity to train a minimum of 400 million skilled people by 2022. It focuses on short- term vocational education programmes, with the mission to scale-up skill development efforts by creating an end to end, outcome focused implementation framework, which aligns demands of the market with a well-trained and skilled workforce. Specific programmes under this umbrella are the National Apprenticeship Promotion Scheme, and the Pradhan Mantri Kaushal Vikas Yojana. These programmes will bolster the growth of Indian MSMEs.

Source:NITI Aayog, Government of India