Start-up village entrepreneurship programme (SVEP)

Why in news?

• Ministry of Rural development approved 183 project under start-up village entrepreneurship programme (SVEP).

About the scheme:

• The Start-up Village Entrepreneurship Program is a sub componenet of Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM) of the Ministry of Rural Development.
•  SVEP aims to support entrepreneurs in rural areas to set up local enterprises.

What it does?

• SVEP focusses on providing self-employment opportunities with financial assistance and training in business management and soft skills while creating local community cadres for promotion of enterprises.
• It addresses three major pillars of rural start-ups namely - finances, incubation and skill ecosystems.
• SVEP promotes both individual and group enterprises, set-up and promote enterprises majorly on manufacturing, trading and service sectors.

PRELIMS QUESTION:

Start-up village entrepreneurship programme (SVEP) is an initiative of?

(a) Ministry of Skill Development and Entrepreneurship

(b) Ministry of Finance

(c) Ministry of Rural Development

(d) Ministry of Electronics and Information Technology

Answer