Entrepreneurship and Development: State Initiatives in Jammu & Kashmir

Abstract

The present paper is about the assessment of intervention provided by Jammu Kashmir Entrepreneurship Development Institute to cater the growing problem of unemployment, poverty and devastation in the industrial sector created through the recent catastrophe of flood in Jammu and Kashmir. Since, the entrepreneurial growth is most important factor responsible for the economic growth and development, so it became an indispensable need for state to establish such an institute in order to create an entrepreneurial environment in general and therefore, uplift the state economy in particular. In recent years, especially, since 2005, the Entrepreneurship Development Institute has been able to generate employment in state up to a great extent by providing certain packages to unemployed educated youth of Jammu and Kashmir in the form of certain schemes sponsored both by center and state Government. The packages include facilities in the form of trainings, financial assistance by lending loans and subsidies vis-a-vis business and managerial assistance. The present study examines the impact of training and the financial assisting schemes which include Seed Capital Fund Scheme, Youth Start-up Loan Scheme, Himmayat and National Minority Development Fund Scheme. By means of above mentioned schemes and trainings, we find that these have definitely helped people to select entrepreneurship as career by youth and generate employment up to great extent.