Plan panel suggests VC fund for Dalit entrepreneurs

New Delhi, Jan 3, (PTI):

Planning Commission Deputy Chairman Montek Singh Ahluwalia today asked 'Dalit' entrepreneurs to set up a venture capital fund to finance business projects of the society's weaker sections.

The suggestion for a dedicated VC fund was made by Ahluwalia to a delegation of the Dalit Indian Chamber of Commerce and Industry (DICCI), official sources said. According to them, he has informed the DICCI delegation that the government might consider picking up some stake in the fund. The meeting with the DICCI delegation was part of the Plan panel's consultation process for formulating the 'Approach' to the 12th Five Year Plan (2012-17). Later, Ahluwalia told reporters that the Planning Commission has received a number of suggestions from the DICCI delegates for improving the schemes meant for Dalits. DICCI has demanded that the government should increase the share of products made by Dalits in its procurement to encourage more entrepreneurs. They also wanted that financial institutions should relax collateral norms for financing their projects. The delegation pleaded for involving Dalits at all levels of policy making for better understanding of their plight.