A STUDY OF GOVERNMENT SCHEMES & POLICIES FOR ENTREPRENEURSHIP CRITICAL DEVELOPMENT IN VIDARBHA WITH SPECIAL REFERENCE TO NAGPUR REGION” (2012-2017)

Dr. Mukul A. Burghate Head and Associate professor Dr.Panjabrao Deshmukh Inst. of Management, Technology and Research Abstract The word Entrepreneurship Development has become a key word for the economic development on the virtue of support of the Government of any region. In a past time securing a top level management education was supposed to be a must to become a successful person in business and industry. It is now accepted that only managerial expertise is not sufficient in the changing environment. The word entrepreneurial spirit has become a new coin in a changing situation. Whether one is serving in an organization or want to start his own economic activity, if one has entrepreneurial spirit then only one can make impact in organization. The new world economic order calls for economic growth through production and productivity and not only through creation of demand. It is desirable to seek growth and balanced regional development through productivity alone. The need of the hour is to explore new avenues of production. Two options are open for the production processes. Firstly, invite foreign hands, technology and capital to install a new system of production. The second option is to adopt and upgrade the existing system by employing the available human and non-human resources. The human resources are developed in this direction; it will further develop the non human resources. History witnesses that accumulated wealth tends to perish unless it rotates. The entrepreneur is the real agent to change or revolve the entire economic scenario of the third world countries provided it is explored within the existing human resources. For Schumpeter , the process of economic changes being ultimately on the person who makes it happen – the entrepreneur. Keyword: Entrepreneurship, Economic Development, Technology, Human Resources Introduction The word ‘entrepreneur’ appeared in the French language long before the emergence of concept of entrepreneurial function. The entrepreneur and his unique risk bearing functions were first identified in the early 18th century by Richard Cantillon, an Irishman living in France. He called an entrepreneur as one who buys factor services at certain prices and sells his product at uncertain prices, thereby bearing a non- insurable risk. The ‘classic’ definition, which was to survive for almost two centuries, was given by an aristocratic industrialist J.B. Say. According to him an entrepreneur is the most important agent of production who provides continuing management and brings together the factors of productions. Both, Cantillon and Say, defined entrepreneurship in the most general terms. Cantillon extended his concept of entrepreneurship to every economic activity and regarded everybody as an entrepreneur. But both the economists failed to relate entrepreneurship with the general economic development of any region. Vidarbha Region, in the state of Maharashtra, comprises of Nagpur, Amaravati, Akola, Yavatmal, Buldhana, Chandrapur, Wardha, Gadchiroli, Bhandara, Gondia, Washim Disticts, with the focal point at Nagpur. Traditionally Vidarbha has lagged behind western Maharashtra in industrial growth. Various incentives were granted to attract industries but have failed. Butibori Industrial Area MIDC outside Nagpur is one of the largest industrial areas incountry but few industries have actually opened there. MIHAN an international cargo hub project is currently underway at Nagpur. The project aims to exploit the central location of Nagpur and convert the present airport into a major freight hub with integrated road and rail connectivity along with a Special Economic Zone. Ballarpur Industries, India’s largest manufacturer and exporter of paper is located in Chandrapur district. Vidarbha’s economy is primarily agricultural and also the region is rich in forest and mineral wealth. From a business point of view, Chandrapur, Amravati and Nagpur are important cities of Vidarbha. Nagpur is a central hub for business. Amravati is well known for film distributors and its cloth markets. Chandrapur has a thermal power station which is one of the biggest in India and some other heavy industries such as BILT (Paper Industry), MEL, Steel industries, Cement industries and coal mines. Industrial & Resource Opportunities in Vidarbha  Opportunity for residential township near Butibori.  Cement Plants, as even today only 50% of Cenment grade limestone deposits in Vidarbha are utilized for Cement manufacturing.  Large good quality granite deposits in Gadchiroli, Bhandara and Chandrapur districts.  Investment opportunities for a proposed six lane highway from Nagpur to Mumbai. Review of literature According to Adam Smith, the father of Political Economy, the entrepreneur was a proprietary capitalist, a supplier of capital and at the same time working as a manger intervening between the industrial manufacturer and agriculture farmer synonymously as entrepreneurs. According to Ricardo, the prime motive of the entrepreneur is to accumulate wealth to facilitate capital formulation and economic development. Alfred Marshall described him as an organizer. According to Marshall, entrepreneur was a person who organized factors of production and managed it in such a way that he should get profit. Research Methodology Research work will be done as a careful/critical inquiry in seeking facts and diligent investigation, in order to ascertain objectives. For any systematic research work, scientific approach is necessary. It is therefore essential to follow a systematic methodology to arrive at a proper conclusion. Objectives of Study The main objective of the study is to investigate about the Government policies for entrepreneurship development and analysis of utilization these policies by the entrepreneurs in Vidarbha region of Maharashtra. 1. Critically evaluate schemes and policies of Government of India for entrepreneurship development. 2. To know the awareness of these schemes and policies in prospective entrepreneurs in Vidarbha. Hypothesis H0: Prospective entrepreneurs in Vidarbha are not aware about schemes and policies of Government. H1: Prospective entrepreneurs of Vidarbha are aware about schemes and policies of Government. Limitations of the study: The present investigation, though carried out on scientific lines, suffers from the following limitations. All of them born out of nature and magnitude of the study. 1. Since the data will be collected from more than one source, there may be slight discrepancies between one source and the other. 2. While computing the percentages and averages the figures will be approximated. Sometimes the totals may not exactly tally. 3. There may be discrepancies in the secondary data on account of their incorrect reporting. Data analysis Testing of Hypothesis: Generally, in hypothesis testing we proceed on the basis of null hypothesis, keeping the alternative hypothesis in view. Why so? The answer is that on the assumption that null hypothesis is true, one can assign the probabilities to different possible sample results, but this cannot be done if we proceed with the alternative hypothesis. Statistical tools, such as Cronbach alpha, ANOVA, correlation analysis, and standard deviation are used for testing of hypothesis. Basically the study is more emphasized in the critical analysis of Government Schemes and policies for the entrepreneurship development in Vidarbha with reference to Nagpur region. After the analysis of Government Schemes and Policies, the objectives and hypothesis of the study would be incorporated after the analysis of collected data. The data has been collected in two parts, in first part the questionnaire (which contains around 43 numbers of questions) has been circulated to 600 people in the age group of 22 to 35 years in the target area to understand about awareness and interest of them towards entrepreneurship. Out of the 600, the 409 responses have been accepted for the data analysis. In the second part, the 215 questionnaire has been circulated to the entrepreneurs of Hingana and Butibori area of Nagpur region but only 66 responses was successfully collected. The reliability of the data collected is justified by calculation of Cronbach’s alpha whereas the hypothesis testing has been done by applying the ANOVA, further detailed analysis performed and results has been interpreted with the help of pie charts . The data analysis has been extended by circulating another questionnaire through the entrepreneurs those who are doing the business in MIDC are in Nagpur region. The following is the analysis done on the basis of the survey data collected from them Conclusion The conclusions will have been made on the basis of detailed investigation of the data collected through the survey questionnaire from youth and existing entrepreneurs in the Nagpur region as well as with reference to the past literatures and available material in various newspapers, magazines and websites.