Here are some points to promote socio-economic developments:
1. To speed up development entrepreneurship, development programmes should be initiated. This training programme should be carried out for the group at different levels of their education.
2. Subsidies by State/Central Government or contribution from corporate sectors should be provided to upgrade skills.
3. Measures for development of self confidence should be taken so that men can utilise their available resources optimally.
4. Grants/subsidies to SHGs to provide nil interest micro-credit for speedy development of their ‘micro capital’ formation are required.
5. Windows in existing financial institutes and commercial banks for disbursement of micro-loans to deserving entrepreneurs and emphasis are needed for creation of wealth and self-employment. Such interest-free micro-credit in some way can help prevent exploitation. This would go a long way in defeating the nefarious hold of moneylenders on the life of the poor and have-nots.
6. Programmes to upgrade and modernise existing workshops, repairing shops, business undertaken on small and medium scales should be undertaken.
7. In certain areas, manufacturing business activities have become non-existent and hence artisans and craftsmen should be educated to make them aware of changing technological realities and markets, so that corrective actions and measures can be taken well in time.
8. Lectures, seminars and conferences should be arranged to upgrade marketing skills of self-employed persons.
9. In view of the possibility of immense employment opportunities in service industry, special emphasis should be laid on entrepreneur training in this area. Training manuals in regional languages are required to be prepared.
10. Manuals in regional languages are required to inform and motivate to take up small business of grocery, fruit, vegetables or outlets for some products manufactured by bigger companies.
11. Efforts to avoid middle men for the products manufactured by the artisans and craftsmen are required to be taken by the state governments. This can also be done through exhibitions, melas or priority purchase by Government undertakings.
12. A fresh culture of participation for economic growth and activities is required to be developed, jointly with NGOs, SHGs and regional development boards.
13. Large population is even unaware of schemes and opportunities available both with State and Central Governments. Dissemination of these activities is important. Mass education on these issues is required.
14. Establishment of voluntary crops, mentors and provision of platform to share mentor’s experiences are needed.
Of all the suggestions presented above, the most important area is to provide micro-credit or micro-capital venture in order to wean borrowers away from moneylenders and MFI sharks.