Tuesday, January 4, 2011

[ZESTCaste] Plan panel suggests VC fund for Dalit entrepreneurs



Plan panel suggests VC fund for Dalit entrepreneurs
New Delhi, Jan 3, (PTI):

Planning Commission Deputy Chairman Montek Singh Ahluwalia today asked
'Dalit' entrepreneurs to set up a venture capital fund to finance
business projects of the society's weaker sections.

The suggestion for a dedicated VC fund was made by Ahluwalia to a
delegation of the Dalit Indian Chamber of Commerce and Industry
(DICCI), official sources said. According to them, he has informed the
DICCI delegation that the government might consider picking up some
stake in the fund.

The meeting with the DICCI delegation was part of the Plan panel's
consultation process for formulating the 'Approach' to the 12th Five
Year Plan (2012-17). Later, Ahluwalia told reporters that the Planning
Commission has received a number of suggestions from the DICCI
delegates for improving the schemes meant for Dalits.

DICCI has demanded that the government should increase the share of
products made by Dalits in its procurement to encourage more
entrepreneurs. They also wanted that financial institutions should
relax collateral norms for financing their projects. The delegation
pleaded for involving Dalits at all levels of policy making for better
understanding of their plight.

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