Assam CM unveils Angel Fund for first generation entrepreneurs

Guwahati, Sept 19: Assam Chief Minister Tarun Gogoi today unveiled the Angel Fund floated to help first generation entrepreneurs and skilled youths aspiring to set up micro and small enterprises, thereby giving an impetus to the economy of the State.

Unveiling the special fund here, Gogoi said 80 per cent of the loan being extended would help the entrepreneurs and skilled youths to set up their own ventures and to become self-independent. The Government would raise the maximum loan amount under the scheme so that the beneficiaries engaged in traditional industries can expand their businesses in a big way, Gogoi said.

"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 Micro, Small and Medium Enterprises (MSME) sector in the State," he said.

The Chief Minister stressed on the need for proper counselling 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," Gogoi added. Pointing out the MSME sector has to play a major role in solving the unemployment problem in the State, given the fact that there is less scope of big industries coming to the State because of non-availability of required land and limited scope of white-collar jobs," he said.

Announcing a special scheme for the traditional and indigenous industries in the State, Gogoi said, "Our government will come up with a new scheme to promote the traditional industries such as bell metal, sital-pati (murta plants) products, ornaments, bamboo, handloom and handicrafts. We will reach out to the artisans engaged in traditional industries in a major way".


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