Himachal to fund young entrepreneurs with grants up to Rs 5 lakh

The Himachal Pradesh government will provide funding of up to Rs 5 lakh per proposal to young entrepreneurs under the HIMUDA Start-up and Student Innovation Policy to boost economic growth and generate employment opportunities.

The announcement was made by Town & Country Planning Minister Rajesh Dharmani while chairing a review meeting of the Himachal Pradesh Housing and Urban Development Authority (HIMUDA) on Saturday.

During the meeting, the minister said the policy aims to build a strong ecosystem for innovation and start-ups in the state.

“Keeping in view the geographical conditions of the state, the government was also exploring the possibility of funding start-ups related to disaster management under this policy,” said Dharmani.

He said HIMUDA projects were aimed not only at meeting the housing needs of people but also at creating new sources of revenue for the state.

“Given the rapid pace of urbanisation, urban development has become a vital pillar of the growth strategy of the state. To encourage planned development in the state, efforts are being made to implement ambitious projects such as Him Chandigarh, Him Panchkula and Kangra Valley Aero City,” said the minister.

He also said land for the Him Chandigarh project was being acquired through mutual agreement or land pooling.

“While keeping environmental conservation in view, a riverfront development project along the Sirsa River is also being prepared. These projects will be developed as future-ready urban centres to promote balanced regional development and reduce the growing pressure of urbanisation in the state,” he said.

Stressing the importance of information technology, the minister said an integrated digital platform under HIMUDA’s e-initiative model would be introduced.

“This would provide stakeholders with online facilities such as allotment, e-drawing and e-auction,” he remarked.