Over 3.13 Lakh Enterprises Supported Under SVEP: Centre

Approximately 3,13,464 enterprises have been supported under the Startup Village Entrepreneurship Programme (SVEP) to date, according to the Union Government.

Minister of State for Rural Development, Dr Chandra Sekhar Pemmasani, said in a written reply in the Rajya Sabha that so far, total central share releases to states/UTs under the SVEP amount is Rs 561.13 crore. SVEP has been approved in 429 blocks across 31 states/UTs including Puducherry. Out of which, in 280 blocks, detailed project report (DPR) has been approved and the programme implementation has started, the minister informed.

A mid-term review of SVEP was carried out during 2018-19 by the Quality Council of India (QCI), which indicated that the programme was able to meet the objectives. About 82 per cent of entrepreneurs across the blocks reported being from Scheduled Caste, Scheduled Tribe and Other Backward Class categories and 75 per cent of the enterprises were owned and managed by women. Nearly 57 per cent of the total household income is through the enterprises promoted under SVEP.

“Average gross income of the entrepreneurs is higher than the aspirational income stated by them from the enterprise at the time of starting the enterprise,” said the Minister.

Around 96 per cent of the entrepreneurs reported an enhancement in savings and 70 per cent of the entrepreneurs interviewed reported that taking loans from Community Enterprise Fund (CEF) was easy.