Concessional loans to startup entrepreneurs

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The government has announced to give concessional loans to 1,000 startup entrepreneurs within the next financial year. President Ramchandra Paudel, while presenting the government's policy and program for the next financial year, said that at least 1,000 young people will be given concessional loans to run start-up businesses.

Concessional loans to startup entrepreneurs

For a decade, the government has been announcing loans to start-up entrepreneurs through policies and programs and budgets. But it has not been implemented yet. According to the Ministry of Industry, Commerce and Supply, Rs. 250 million has been allocated for providing start-up loans in this year's budget as well. Industrial Business Development Foundation selected 394 projects for commercial proposal presentation for

loans. By issuing a notification on Tuesday itself, the foundation said that the missing projects of commercial proposal presentation should come to the office by June 6. From January 19 to February 10, 1,658 projects, including these three enterprises, submitted proposals for the proposal requested by the

foundation for 'startup' enterprise loans. In the last financial year too, more than 300 submissions were made when the project proposal was requested after the Startup Enterprise Loan Fund Procedure, 079 was approved. The applications of 213 companies were rejected as they were not in accordance with the procedure.

The government has been announcing subsidized loans for years, but it has not yet been implemented. President Paudel said that the national campaign for innovation and startup will be conducted. "National Startup Enterprise Policy will be implemented in cooperation with the three levels of government as well as the private sector," it is said in the policy and program.