The scheme 'Venture Capital Fund for Scheduled Castes' was launched by Union Social Justice Minister Thaawar Chand Gehlot here.

Addressing the gathering on the occasion, he said that the new initiative, with an initial capital of Rs 200 crore, would help people belonging to the SC categories in a big way.

Highlighting the efforts by the NDA government to uplift SC and OBC people, he noted that a chunk of the working sections were poor in the country.

Later, responding to a query on the new scheme launched in the wake of the Election Commission declaring polls to Delhi, he said necessary permission for launching the scheme was obtained from the poll panel.

Social Justice and Empowerment secretary Sudhir Bhargava said that about 30 persons a year would benefit from this scheme, wherein each can avail loans up to Rs 15 crore.     

"Initially, our target is 30 persons a year, while the sealing is up to Rs 15 crore," he said.

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