SFURTI Scheme 2019-20

‘Scheme of Fund for Upgradation and Regeneration of Traditional Industries’ (SFURTI) 2019-20 [Full Form, MSME, Guideline]

The Scheme of Fund for Upgradation and Regeneration of Traditional Industries has been proposed by the Union Minister Nirmala Sitharaman. By this scheme, the government will take the initiative to set up common facility centers or CFCs. The main objective of the scheme is to improve the condition of traditional industries. This would, in turn, generate plenty of employment opportunities for unemployed in the age-old industries. So, better productivity and profitability can be expected from the traditional sector after changes are brought in the sector. So, this initiative by the Ministry of Micro Small and Medium Enterprises will be of immense help for the unemployed artisans. Read below to know more details about the scheme eligibility and other relevant information.

‘Scheme of Fund for Upgradation and Regeneration of Traditional Industries’ (SFURTI)

What are the highlighting features of the SFURTI scheme?

Aim of the scheme –

The SFURTI scheme has been proposed by the Finance Minister with the aim of improving the traditional industries. This would make the clusters a productive and capable one by creating employment opportunities.

Target sector under the scheme –

According to the above said scheme, some of the backward traditional industrial sectors will be given importance such as Khadi, bamboo, honey and others. By boosting the condition of the traditional industries, several workforces will be employed in the above-said sectors. Near about 100 new clusters are planned to set up by 2019-2020. In this, almost 50,000 aspirants can join and earn their living.

Need for advance marketing –

For better marketing of the newly set up clusters, the government will help with new products and better packaging ideas along with innovative marketing facilities.

What are the eligibility criteria for the SFURTI scheme PIB?

Geographical concentration –

The candidate should be within one or two revenue sub-division area of the concerned district. Only then, the candidate can get the scheme benefit.

Sector of work

The workers and artisans involved small and medium scale businesses are eligible to apply under the above said scheme benefits. Some of the involved sectors are bamboo, honey, khadi and others.

Identity proof –

This shall help to know whether the person belongs to small scale industries, and they are capable of getting the scheme benefit or not. So, they should produce their Aadhaar card as identity proof.

Important documents required under the scheme

Identity proof

The interested artisans should provide Aadhaar card, Voter ID card, or ration card as an identity proof to get benefits under the above-said scheme.

Sector of work –

This shall be produced in support of the claim that the candidate belongs to the small and micro industries.

Geographical location

Documents relating to the proper geographical location of the artisan should be produced to check whether the candidate is eligible for scheme or not.

Details of online application procedure of SFURTI scheme

Since this is a newly launched scheme, the details of online application are yet to come. As soon as the government declares the online process of application, the beneficiaries will be the first to know about the updates. For the same, they have to stay updated with the online portal of the scheme. 

So, by effective implementation of the scheme, it will be possible to revive the rich heritage of the traditional industries. Therefore, with large-scale employment opportunities, it will be possible to motivate and boost the artisans and help the ones living in rural areas.

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