New Delhi, Nov 11: The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the continuation of Stand-Up India Scheme for a period of 5 years upto March 31, 2031.

The scheme aims to promote entrepreneurship among women, Scheduled Castes (SCs) and Scheduled Tribes (STs) and aims to provide financial assistance to additional 2.5 lakh entrepreneurs in a span of five years. Since its launch in April 2016, the scheme has facilitated loans to more than 2.75 lakh Women/SC/ST entrepreneurs.

Salient features of the scheme:

Eligible borrowers: Women, SC and ST entrepreneurs for setting up new/green field enterprises

Quantum of Support: The loan can be in the form of either Composite (Working Capital and Term Loan) or Term loan for amounts above Rs.10.00 lakh and upto Rs.1.00 crore (upto 85% of the project cost).

Eligible Sectors: Manufacturing, Services, Trading and Agri allied activities.

Credit Guarantee coverage: 85% of the loan amount

Guarantee Fee: Standard guarantee fee of 0.50 %

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The government would ensure credit access for women, SC and ST entrepreneurs, enabling enterprise creation and strengthening entrepreneurship across underserved communities, thereby supporting inclusive economic growth.