Question
What does the “I” in ASPIRE scheme for MSMEs stand
for?Solution
A Scheme for promoting Innovation, Rural Industry & Entrepreneurship (ASPIRE), was launched in 2015 to set up a network of technology centres and to set up incubation centres to accelerate entrepreneurship and also to promote start-ups for innovation and entrepreneurship in agro-industry. Assistance
- One-time grant of 100% of cost of Plant & Machinery other than the land and infrastructure, or an amount up to Rs 1 Crore, whichever is less is to be provided
- In case of incubation centres to be set up under PPP mode with NSIC, KVIC or Coir Board or any other Institution/agency of GoI/State Government, one- time grant of 50% of cost of Plant & Machinery, other than the land and infrastructure, or Rs 50 lakhs, whichever is less is to be provided
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