Regeneration of traditional industries
Scheme of Fund for Upgradation and Regeneration of Traditional Industries (SFURTI) aims to set up more Common Facility Centres for generating sustained employment opportunities!
The Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman said that the Government aims to set up more Common Facility Centres (CFCs) under the ‘Scheme of Fund for Upgradation and Regeneration of Traditional Industries’ (SFURTI). Presenting the Union Budget 2019-20 in the Lok Sabha, she said this will facilitate cluster based development to make the traditional industries more productive, profitable and capable for generating sustained employment opportunities. The focused sectors are Bamboo, Honey and Khadi clusters. SFURTI envisions setting up of 100 new clusters during 2019-20 to enable 50,000 artisans to join the economic value chain.
The Scheme for Promotion of Innovation, Rural Industry and Entrepreneurship’ (ASPIRE) has been consolidated for setting up of Livelihood Business Incubators (LBIs) and Technology Business Incubators (TBIs). The Scheme contemplates setting up 80 Livelihood Business Incubators (LBIs) and 20 Technology Business Incubators (TBIs) in 2019-20 to develop 75K skilled entrepreneurs.
Ease of doing business and ease of living both should apply to farmers too. “We shall go back to basics on one count: Zero Budget Farming. We need to replicate this innovative model. Steps such as these can truly double our farmers’ income in time for our 75th year of Independence” said Nirmala Sitharaman.
