ASPIRE: Scheme for Promotion of Innovation, Rural Industries and Entrepreneurship
Last updated: 2026-11-13 · MockMentor
ASPIRE (A Scheme for Promotion of Innovation, Rural Industries and Entrepreneurship) sets up Livelihood Business Incubators (LBIs) to train and incubate rural youth, women and the unemployed in the agro-rural sector. It was continued from 2021-22 to 2025-26 with ₹194.87 crore.
In one line: rural incubation centres that turn skills into small agro-rural businesses.
At a glance
| Item | Details |
|---|---|
| Period | 2021-22 to 2025-26 |
| Outlay | ₹194.87 crore |
| Ministry | MSME |
| Target | 125 Livelihood Business Incubators |
| Each LBI | Trains or incubates 300 to 500 youth a year |
| Fund of Funds | ₹310 crore with SIDBI |
Grants for incubators
- Government LBIs: 100% of plant and machinery cost, up to ₹100 lakh.
- Private LBIs: 75%, up to ₹75 lakh.
- Up to ₹100 lakh for running costs.
- The Technology Business Incubator component has been folded into the Ministry's incubation scheme.
Possible exam questions
- How can rural incubators reduce migration from villages?
- Discuss the role of agro-processing enterprises in raising farm incomes.
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