Budget 2015: IIC seeks easier financing for social enterprises

NEW DELHI: Impact Investors Council, in a representation to the Finance Ministry, has sought recognition and easier financing for social enterprises in the upcoming budget.

The government will present the Union Budget 2015-16 on February 28.

IIC works towards creating social and environmental change in the country. It invests with intention of generating positive social impact along with a return on capital.

Impact Investors invest in social enterprises, which are working to create social and environmental change in the country.

"IIC (has) submitted a representation for the forthcoming Budget to Minister of State for Finance, Jayant Sinha, on behalf of investors and social entrepreneurs, seeking recognition for the Rs 10,000-crore for sector and easier financing for social enterprises," the industry body said in a release.

ICC CEO Amit Bhatia said that Impact Investors have used the power of financial markets and ingenuity of social entrepreneurs to build Rs 10,000 crore impact investment industry with a promise to exceed Rs 6,000 crore annually by 2020.

"The industry helps bridge our national social investment gap while serving the poor and underserved. Therefore, IIC is requesting the Government to partner us and help galvanise the impact investment eco-system," he added.