India, a land of vibrant culture and entrepreneurial spirit, thrives on the ingenuity and resourcefulness of its people. Amidst the bustling streets and urban landscapes, there lies a significant yet often overlooked segment of the economy – home-based enterprises. These businesses, operated from the comfort of one's home or nearby premises, constitute a crucial component of India's economic fabric, contributing to employment, productivity, and overall economic growth. 1. Evolution of Home-Based Workforce Over the past few decades, the landscape of home-based enterprises in India has witnessed both growth and flux. According to data sourced from the National Sample Survey, the number of home-based workers stood at approximately 47.14 million in 2004-05. This figure saw a modest increase to 49.20 million by 2011-12. However, a noticeable decline was observed in 2017-18, with the estimated count dropping to 41.85 million. Despite this fluctuation, home-based work consis
The Indian government has implemented various initiatives to bolster the nation's economy, emphasizing policies like Make in India, Start-up India, and Digital India. Noteworthy measures include the Amrit Bharat Station Scheme for railway station transformation, the Draft Carbon Credit Trading Scheme, and the Foreign Trade Policy 2023. The government aims to enhance manufacturing through schemes like the Production Linked Incentive Scheme for Pharmaceuticals and the PM-DevINE for the North-East Region. Additionally, significant budget allocations and strategic agreements signify a comprehensive approach to economic growth and development.
| Initiative | Date | Description |
|---|---|---|
| Amrit Bharat Station Scheme | August 6th, 2023 | Transformation and revitalization of 1309 railway stations. Continuous development with a long-term vision. |
| Draft Carbon Credit Trading Scheme | June 28th, 2023 | Introduced by the Ministry of Environment, Forests, and Climate Change. |
| Foreign Trade Policy 2023 | April 1st, 2023 | Aims to support 'AtmaNirbhar Bharat' and 'Local goes Global' philosophy. |
| Production Linked Incentive Scheme (PLI) for Pharmaceuticals | April 1st, 2023 | Introduced to enhance India’s manufacturing capabilities. |
| PM-DevINE | Union Budget 2022-23 | Prime Minister's Development Initiative for North-East Region with a financial outlay of Rs. 1,500 crore. |
| Pradhan Mantri Garib Kalyan Ann Yojana (PMGKAY) | January 1st, 2023 | Inaugurated by PM Narendra Modi, providing free food grains to beneficiaries. |
| Credit Guarantee Scheme for Start-ups (CGSS) | October 7th, 2022 | Launched by DPIIT to provide credit guarantees for start-ups. |
| Telecom Technology Development Fund (TTDF) Scheme | October 2022 | Launched by USOF to fund R&D in rural-specific communication technology. |
| Border Tourism Development Programme | September 2022 | Laid foundation stone for Tanot Mandir Complex Project in Jaisalmer. |
| Central Arid Zone Research Institute (CAZRI) Facilities | August 2022 | Inauguration of four new facilities by Minister of Agriculture. |
| Special Food Processing Fund | August 2022 | Set up with NABARD to provide credit for Mega Food Parks and processing units. |
| Mega Cargo Handling Terminals | July 2022 | DPA's plan to develop terminals on BOT basis under PPP Mode. |
| India & Maldives MoU | July 2022 | Approved by Union Cabinet for information technology court digitization. |
| India-Namibia MoU on Wildlife Conservation | July 20th, 2022 | Agreement for the cheetah reintroduction into India. |
| RBI Approval for International Trade Settlements | July 2022 | Approval for trade settlements in Indian rupees to promote global trade. |
| Agnipath Scheme | June 14th, 2022 | Introduced for a young and skilled armed force with advanced warfare technology. |
| Gujarat Gaurav Abhiyan Projects | June 2022 | Inauguration and foundation stone laying for projects worth Rs. 21,000 crore. |
| AI in Defence Symposium | July 11th, 2022 | Launch of 75 AI products/technologies by Minister of Defence. |
| UP Investors Summit Projects | June 2022 | Laid foundation stone for 1,406 projects worth more than Rs. 80,000 crore. |
| IISR MoU with Lysterra LLC | June 30th, 2022 | MoU for commercialization of bio capsule technology. |
| Free Trade Agreements (FTAs) | April 2022 | India signed 13 FTAs, including India-UAE CEPA and India-Australia IndAus ECTA. |
| 'Mission Shakti' | April 1st, 2022 | Aimed at strengthening interventions for women’s safety, security, and empowerment. |
| Union Budget 2022-23 | February 1st, 2022 | Priorities include PM GatiShakti, Inclusive Development, Productivity Enhancement, and Investment. |
| Strengthening of Pharmaceutical Industry (SPI) | March 2022 | Launched to provide credit linked capital and interest subsidy for technology upgradation. |
| PM GatiShakti Master Plan | Ongoing | Development of 25,000 km of new highways network. |
| Scheme for Economic Empowerment of DNTs (SEED) | February 2022 | Launched for basic facilities and financial assistance for DNTs. |
| Extension of PLI Schemes | February 2022 | Extended to 14 sectors to achieve AtmaNirbhar Bharat and create jobs. |
| PLI Scheme for Domestic Solar Cells | 2022-23 | Funding announced in Union Budget of Rs. 24,000 crore. |
| PLI Scheme for Bulk Drugs | 2022-23 | Investment of Rs. 2,500 crore announced in Union Budget. |
| Design-led Manufacturing in 5G | 2022-23 | Scheme announced in Union Budget. |
| Telecom Sector Reforms | September 2021 | Major reforms announced by Union Cabinet. |
| BSNL Capital Investments | 2022-23 | Allocation of Rs. 44,720 crore in Union Budget for 4G spectrum. |
| Deep Ocean Mission | 2022-23 | Allocation of Rs. 650 crore for exploring marine resources. |
| India-UK Free Trade Agreement | November 1st, 2021 | Negotiations expected to begin for unlocking business opportunities. |
| Merchandise Export Target | August 2021 | National mission to reach US$ 400 billion export target by FY22. |
| e-RUPI Digital Payment Solution | August 2021 | Launched by PM Narendra Modi for contactless and cashless digital payments. |
| Trilateral Trade Between India, UAE, and Israel | April 2021 | Expected to reach US$ 110 billion by 2030. |
| Investment in Oil and Gas Infrastructure | 2019-23 | Expected investment of around US$ 100 billion. |
| Public Health Spending | By 2025 | Government expected to increase spending to 2.5% of GDP. |