Madhya Pradesh to create Rs 100-crore venture capital fund for new entrepreneurs
BHOPAL: Chief Minister Shivraj Singh Chouhan, at a
cabinet meeting held here on Tuesday announced creation of a Rs 100 crore
venture capital fund for help of new entrepreneurs. The fund will be created as
per rules of Securities and Exchange Board of India (SEBI). In the beginning,
help from the fund will be given to medium, small and micro entrepreneurs to
set up their units.
The Directorate of Institutional Finance will appoint
an advisor through transparent arrangements for the venture capital fund and
handholding support of institutional arrangements.
The fund will help new and talented entrepreneurs, who
cannot set up innovation-based new enterprises due to lack of adequate share
capital. State’s young entrepreneurs will get share capital at local level. At
present, they have to go other states and metropolitan cities of the country to
avail this facility.
Affordable houses for poor: The cabinet endorsed a scheme under PPP mode for
construction of affordable houses for Economically Weaker Section (EWS) and Low
Income Group (LIG) families. The cabinet also approved the guidelines issued
for the scheme.
The area of the project on which houses are to be
built will be transferred to the urban body concerned at Re 1 annual lease rent
without any premium.
Under the scheme, government land will be identified by
the Town Development Authority and Special Area Development Authority concerned
for construction of houses. Authority will apply to the collector concerned to
transfer land to them. A committee headed by collector will decide as to
whether proposed land is suitable for the project or not. At divisional
headquarters, the committee will be headed by the commissioner.
In Bhopal investment zone, a committee of Urban
Administration & Environment Department headed by its Secretary will ensure
action of reservation on collector’s proposal. After reservation of land, the
Authority will prepare a proposal on the basis of technical and economic
viability of the project. The project will be prepared in a manner that VGF is
not required for its implementation.
The cabinet committee constituted under Atal Ashray
Yojana will be empowered to remove difficulties in project’s implementation.