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Government Schemes and
Incentives for Promotion of
Entrepreneurship
Entrepreneurship Development and Industrial
Consultancy
 Government provides various incentives to
entrepreneurs to
◦ Encourage and support entrepreneurs
◦ Enhance their productivity, and
◦ Motivate entrepreneurs
 These incentives are given in the form of
concession, subsidies and reward.
 Subsidies are a one time lump sum amount
given to the entrepreneur by the government. It
is a financial help to cover the cost.
 Reward is a financial help provided to an
industry so that it can compete with other units
of the country as well as any foreign industry in
the same business.
Introduction
Aims and Objectives of Incentives
1. Solving Economic Constraints
Entrepreneurs often encounter several
problems.
◦ Lack of adequate infrastructure
◦ Locations of supporting offices for projects
◦ Lack of relevant information and knowledge e.g.
 Managerial skills and technical now how,
 Market intelligence, etc.
Provision of Government incentives like
availability of power, concessional finance,
capital investment subsidies, transport
subsidies, etc. aims at eliminating such
constraints and promote entrepreneurship.
Aims and Objectives of
Incentives
2. Inculcate regional parity in
development
◦ Regional disparity is one of the concerning
features of Indian economy.
In order to inculcate equitable growth
and development that leads to regional
parity i.e. there is equal development of all
the regions, government provides special
incentives for establishing entrepreneurs
in the backward regions.
Aims and Objectives of Incentives
3.To prepare entrepreneurs for competition
Small Scale Enterprises started by
entrepreneurs observe strong competition from
big firms.
To make them able to thrive and survive under
competitive environment some sort of support is
required.
If they are not provided appropriate support from
the government then they can not survive and grow.
Thus certain incentives are required.
e.g. reservation policy, price preference,
preferential purchase, etc., help to improve their
competitive strength.
 Entrepreneurs in the context of globalized
market economy are the vehicles of economic
development.
 Small and medium enterprises carry strategic
importance in national economy.
 Government helps enterprises including small
and medium ones by supporting
entrepreneurs.
 It makes possible to create new job positions,
increase gross domestic product (GDP) and
rising living standard of population.
Government Support to Entrepreneurs
To protect, support and promote small enterprises and
help them become self-supporting, the Government has
taken a number of protective and promotional
measures.
 These measure include
- industrial extension services (NIMSME)
- institutional support in respect of credit facilities,
- provision of developed sites for construction of
sheds,
- provision of training facilities,
- supply of machinery on hire-purchase terms-
(NSIC)
- assistance for domestic marketing as well as
exports,
- special incentive for setting up enterprises in
Government Support to Entrepreneurs
Government provides support to
entrepreneurs in the following ways.
 Training: Trainings aims at improving the
entrepreneurial skills. Basic training varies
from product to product but will
necessarily emphasise on sharpening of
entrepreneurial skills.
◦ In this regard central and state government’s
technical institutions provide need based
technical training.
◦ Entrepreneurship development programmes
are conducted by many government
organizations and non government institutions.
 Marketing Assistance
 Government and non government agencies
provide marketing assistance to
entrepreneurs.
 Government promotes MSME products
through exhibitions.
 The National Small Industries Corporation
( NSIC) directly markets the MSME products
in the national and international market
◦ NSIC manages single point registration scheme
for manufacturers for government purchases.
◦ Enterprises registered under this scheme obtain
the benefit of free tender documents and
exemption from earnest money deposit and
performance guarantee.
Government Support to Entrepreneurs
 Promotional schemes:
 MSMEs are accorded highest priority.
 For their development conducive policies and
schemes are formulated and implemented.
 Government provides land and sheds on
actual cost basis with appropriate
infrastructure.
• The government has designed the special
schemes for:
 Quality upgradation
 Common facilities
 Entrepreneurship development, and
 Consultancy services at minimal charges.
Government Support to Entrepreneurs
 Excise duty Concession
◦ Government provides exemption to MSME
units for a particular level of annual turnover
from paying excise duty.
◦ The limit of turnover is variable.
Government Support to Entrepreneurs
 Credit facility
◦ Credit to MSME sector is covered under
priority sector lending by banks.
◦ Small industries development bank of India
(SIDBI) is mainly responsible for implementing
various schemes of providing financial support
to small entrepreneurs.
◦ Loans are also provided to small
entrepreneurs by scheduled banks without
collateral security.
◦ The limit of loan is variable.
Government Support to Entrepreneurs
Schemes of State Governments
 The state governments also provide
technical and other support services to
MSME through their directorate of
industries and district industries centre.
 In general all the state governments extend
support of following types:
a) Deferment/ suspension of sales tax.
b) Power subsidy
c) Capital investment subsidies to new
enterprises established in some
selected districts.
d) Margin money/seed capital assistance
schemes.
e) Priority in providing power connection/water
connection.

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Government-Schemes-and-Incentives-for-Promotion-of-Entrepreneurship.pptx

  • 1. Government Schemes and Incentives for Promotion of Entrepreneurship Entrepreneurship Development and Industrial Consultancy
  • 2.  Government provides various incentives to entrepreneurs to ◦ Encourage and support entrepreneurs ◦ Enhance their productivity, and ◦ Motivate entrepreneurs  These incentives are given in the form of concession, subsidies and reward.  Subsidies are a one time lump sum amount given to the entrepreneur by the government. It is a financial help to cover the cost.  Reward is a financial help provided to an industry so that it can compete with other units of the country as well as any foreign industry in the same business. Introduction
  • 3. Aims and Objectives of Incentives 1. Solving Economic Constraints Entrepreneurs often encounter several problems. ◦ Lack of adequate infrastructure ◦ Locations of supporting offices for projects ◦ Lack of relevant information and knowledge e.g.  Managerial skills and technical now how,  Market intelligence, etc. Provision of Government incentives like availability of power, concessional finance, capital investment subsidies, transport subsidies, etc. aims at eliminating such constraints and promote entrepreneurship.
  • 4. Aims and Objectives of Incentives 2. Inculcate regional parity in development ◦ Regional disparity is one of the concerning features of Indian economy. In order to inculcate equitable growth and development that leads to regional parity i.e. there is equal development of all the regions, government provides special incentives for establishing entrepreneurs in the backward regions.
  • 5. Aims and Objectives of Incentives 3.To prepare entrepreneurs for competition Small Scale Enterprises started by entrepreneurs observe strong competition from big firms. To make them able to thrive and survive under competitive environment some sort of support is required. If they are not provided appropriate support from the government then they can not survive and grow. Thus certain incentives are required. e.g. reservation policy, price preference, preferential purchase, etc., help to improve their competitive strength.
  • 6.  Entrepreneurs in the context of globalized market economy are the vehicles of economic development.  Small and medium enterprises carry strategic importance in national economy.  Government helps enterprises including small and medium ones by supporting entrepreneurs.  It makes possible to create new job positions, increase gross domestic product (GDP) and rising living standard of population.
  • 7. Government Support to Entrepreneurs To protect, support and promote small enterprises and help them become self-supporting, the Government has taken a number of protective and promotional measures.  These measure include - industrial extension services (NIMSME) - institutional support in respect of credit facilities, - provision of developed sites for construction of sheds, - provision of training facilities, - supply of machinery on hire-purchase terms- (NSIC) - assistance for domestic marketing as well as exports, - special incentive for setting up enterprises in
  • 8. Government Support to Entrepreneurs Government provides support to entrepreneurs in the following ways.  Training: Trainings aims at improving the entrepreneurial skills. Basic training varies from product to product but will necessarily emphasise on sharpening of entrepreneurial skills. ◦ In this regard central and state government’s technical institutions provide need based technical training. ◦ Entrepreneurship development programmes are conducted by many government organizations and non government institutions.
  • 9.  Marketing Assistance  Government and non government agencies provide marketing assistance to entrepreneurs.  Government promotes MSME products through exhibitions.  The National Small Industries Corporation ( NSIC) directly markets the MSME products in the national and international market ◦ NSIC manages single point registration scheme for manufacturers for government purchases. ◦ Enterprises registered under this scheme obtain the benefit of free tender documents and exemption from earnest money deposit and performance guarantee. Government Support to Entrepreneurs
  • 10.  Promotional schemes:  MSMEs are accorded highest priority.  For their development conducive policies and schemes are formulated and implemented.  Government provides land and sheds on actual cost basis with appropriate infrastructure. • The government has designed the special schemes for:  Quality upgradation  Common facilities  Entrepreneurship development, and  Consultancy services at minimal charges. Government Support to Entrepreneurs
  • 11.  Excise duty Concession ◦ Government provides exemption to MSME units for a particular level of annual turnover from paying excise duty. ◦ The limit of turnover is variable. Government Support to Entrepreneurs
  • 12.  Credit facility ◦ Credit to MSME sector is covered under priority sector lending by banks. ◦ Small industries development bank of India (SIDBI) is mainly responsible for implementing various schemes of providing financial support to small entrepreneurs. ◦ Loans are also provided to small entrepreneurs by scheduled banks without collateral security. ◦ The limit of loan is variable. Government Support to Entrepreneurs
  • 13. Schemes of State Governments  The state governments also provide technical and other support services to MSME through their directorate of industries and district industries centre.  In general all the state governments extend support of following types: a) Deferment/ suspension of sales tax. b) Power subsidy c) Capital investment subsidies to new enterprises established in some selected districts. d) Margin money/seed capital assistance schemes. e) Priority in providing power connection/water connection.