Kerala to create 50000 entrepreneurs

THIRUVANANTHAPURAM, INDIA: The Kerala government will on Thursday announce the names of 812 unemployed youths who will receive training under an ambitious Rs 2,500 crore scheme to create 50,000 entrepreneurs in five years, a minister said.

The Kerala State Self Entrepreneur Development Mission was announced by finance minister K.M. Mani in his Budget speech last year.

Addressing reporters here on Tuesday, Mani said, ''The first batch of 812 people would be introduced on the day. These individuals would then go for a six week training programme.''

A total of 15,000 people had submitted their expression of interest to set up self- employed units, of which 4,000 people were selected. Of this, the first batch of 812 would be trained.

''Our ultimate objective is to see that in five years time, a record 50,000 entrepreneurs are created and an estimated six lakh people would find gainful employment in these units,'' added Mani.

The units will be eligible for a maximum of Rs.2 million interest free loan, besides subsidies and other benefits.