The objective of the challenge launched from New York is to give grants to people who innovate while working to transform the lives of informal workers. Participants will need to present solutions that will uplift the lives of the poor and the vulnerable in informal economies in many countries.
The committee set up by Planning Commission has recommended to the central Government to set up a National Entrepreneurship Mission, whose sole focus will be to establish a vibrant entrepreneurial eco system in India. The Mission's mandate, as one single entity within the Governments, both at the national and state levels, will require it to pursue exclusively, the task of facilitating entrepreneurs and entrepreneurship.
The 4th census had also indicated that despite Govt declared policy to promote and support MSMEs, the credit flow to this sector as percentage of total bank financing has come down from 17.5% in 1192 to 8.5% in 2006.