Beneficiary of Venture Capital Fund scheme

Shripad Yesso Naik launched “Elixir for Life”

Question: Recently Shripad Yesso Naik, Minister of State (I/C) for AYUSH launched which of the following Ayurvedic Proprietary Medicine?
(a) Real For Life
(b) Elixir for Life
(c) Amrit Dhara
(d) Casamrit
Ans: (b)
Related facts:

  • On 11 October 2016 Shripad Yesso Naik, Minister of State (I/C) for AYUSH launched “Elixir for Life”, an Ayurvedic Proprietary Medicine .
  • This product has been produced by a beneficiary of the Venture Capital Fund Scheme for Scheduled Caste (SC) Entrepreneurs launched by Ministry of Social Justice & Empowerment in 2014-2015.
  • The beneficiary M/s Mallur Flora & Hospitality Ltd. No. 11, RBI Colony, Bengaluru has been financed by Ministry of Social Justice & Empowerment, Government of India (IFCI) and Department of Welfare Govt. of Karnataka (KFSC).
  • The Ministry of Social Justice & Empowerment launched the Venture Capital Fund Scheme for Scheduled Caste (SC) Entrepreneurs in 2014-2015.
  • 50 SC entrepreneurs have till now benefitted from the scheme. The Scheme has helped the entrepreneurs in achieving economic empowerment.
  • The objective of the Venture Capital Fund Scheme for Scheduled Caste are as follow:-
    1. It is a Social Sector initiative to be implemented nationally in order to promote entrepreneurship among the scheduled caste population in India.
    2. Promote entrepreneurship amongst the Scheduled Caste who are oriented towards innovation and growth technologies.
    3. To provide concessional finance to the scheduled caste entrepreneurs, who will create wealth and value for society and at the same time will promote profitable businesses. The assets so created will also create forward/ backward linkage. It will create chain effect in the locality.
    4. To increase financial inclusion for SC entrepreneurs and to motivate them for further growth of SC communities.
    5. To develop SC entrepreneurs economically.
    6. To enhance direct and indirect employment generation for SC population in India.
  • As per Census 2011, the SC population is 20.13 crore, which constitutes 16.62% of the total population in India.

Reference:
http://pib.nic.in/newsite/PrintRelease.aspx?relid=151586
http://www.shripadnaik.in/shripad-naik-elixir-for-life/