Odisha Govt. To Formulate Entrepreneurship Development Policy

30 May, Bhubaneswar

Odisha government Saturday decided to formulate an Entrepreneurship Development Policy to promote a culture of entrepreneurship in the state to attract youths to an alternate viable career option and to discourage them to run after jobs.

The decision for such a policy was discussed at a high level meeting held under the chairmanship of Chief Secretary G C Pati.

MSME secretary Panchanan Das told newsmen that the proposed policy which would be given a shape within a week, would have provision to start entrepreneurship curriculum in school and college and university level to give basic idea about entrepreneurship to the students.

Concept of gap years, grace marks and attendance to the student entrepreneurs who are incubated in approved Entrepreneurship Development Cells and Technology and business incubation centres would be introduced to facilitate break in education by students who wish to pursue entrepreneur venture and finish the degree in extended time.

The proposed policy also decided to waive the start up fees for starting projects to promote entrepreneurship. A corpus fund would be created to provide Rs one lakh assistance to start up entrepreneurs who have no money to start the work.

Engineering and Management graduates and persons trained by a reputed organisation selected by a technical committee would be given the financial assistance to set up their business unit.Awards would be given to the best entrepreneurs at the state and district level.

Das said the entry and exit norms for enterprises shall be made easier and the process to set up and run business shall be simplified streamlined and automated. Youth Entrepreneurship Development Agency (YEDA) to be set up would be the nodal agency for implementation of the policy.

The secretary said a high level task force under the chairmanship of Chief Secretary would be constituted to monitor and evaluate the policy. Das said a task force headed by the District Collector would also be set up at the district level to approve and monitor fiscal incentives proposed in the policy. He said specific performance indicators shall be defined for monitoring the policy objectives