Some Dalit businessmen plan to launch a Rs 500 crore venture capital fund — India’s first community-focused fund. The Central government’s new procurement policy will open business opportunities worth Rs 7,000 crore for Dalit and s (ST) entrepreneurs. These entrepreneurs are now gearing up to tap this opportunity by launching their own venture capital fund and increasing their production capacities. The proposed Rs 500 crore venture capital fund will be the country’s...
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The private sector's turn to deliver by Sukhadeo Thorat
The government's decision to set aside a 20 per cent quota for SC/ST vendors in its purchases, if accepted by every sector on a wider scale, has the potential to makegrowth pro-poor and inclusive. The Central government has finally announced a policy reserving 20 per cent of its purchases for micro and small enterprises run by entrepreneurs belonging to the Scheduled Castes and the Scheduled Tribes. The new procurement policy will...
More »OBC quota pool likely to get bigger by Subodh Ghildiyal
The number of backward caste members eligible for reservation benefits may see a quantum jump, with the Centre considering a drastic relaxation of the definition of "creamy layer" to enable those with an annual income of Rs 12 lakh in metros qualify for quota benefits. The eligibility level is proposed to be raised to Rs 9 lakh in non-metro cities, marking a two-fold hike from the existing ceiling of Rs 4.5...
More »4% of govt purchases will have to be from dalit, tribal-run firms by Subodh Ghildiyal
Ahead of its battle with dalit czarina Mayawati, the Congress-led Centre has made it mandatory for all central bodies to make at least 4% of their annual purchases from small scale industries owned by dalits and tribals. The decision, a leg up for developing entrepreneurship among SCs/STs, came as part of the new public procurement policy cleared by the Union Cabinet on Tuesday which mandates Union ministries/PSUs to make 20% of...
More »Playing with numbers, and lives by Brinda Karat
The Planning Commission, headed by the prime minister, has filed an affidavit in the Supreme Court quantifying the daily poverty line for an adult as Rs 26 in rural, and Rs 32 in urban India. At today’s relentlessly increasing prices, Rs 26 will not get a manual worker even one nutritious meal a day — leave alone the 2,400 calories he is required to eat to enable him to work,...
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