Connect with us

Finance

Exclusive Loan Schemes Indian Government Launched for Women Entrepreneurs

money-india-currency-indian-68912

According to the 6th Economic Census of the Ministry of Statistics and Programme Implementation, the share of women entrepreneurs is about 14% out of total entrepreneurship in India. It is estimated that more than 8 million women in the country are owners of successful business ventures.

The Government of India has, from time to time, launched various schemes to support women emerging as potential entrepreneurs. Several financial institutions have been directed to extend loans for women and help them build their own business entity. With governmental aid and constant encouragement, India looks to have more global women leaders such as Kiran Mazumdar Shaw, Indira Nooyi, Ziya Modi, and so on.

Government initiatives to support women entrepreneurship

The objective of the government programs is not just to back businesswomen financially, but also to encourage them to jumpstart their business. These are some of the major government schemes aimed at promoting women entrepreneurship –

1. STEP for Women

The Support to Training and Employment Programme for Women (STEP) Scheme has been functioning since 1986-87 under ‘Central Sector Scheme’. This is a skill development program aimed at generating entrepreneurship skills in Indian women. The objectives of the STEP scheme are –

  • To provide training to the women.
  • Upgrading skills of potential entrepreneurs.
  • Generate income and employment for women.
  • Improve working conditions for females.
  • Assisting women in their entrepreneurship by helping them to expand the business to another city, platform, etc.

The STEP program covers all women aged above 16 years. The sectors included are –

  • Agriculture.
  • Handloom.
  • Handicrafts.
  • Horticulture.
  • Computer and IT.
  • Travel and Tourism, etc.

All projects started under this scheme will run for a period up to 5 years, depending upon the nature of the sector.

2. Rashtriya Mahila Kosh (RMK)

Rashtriya Mahila Kosh is an autonomous and national level organisation, established in 1993. The body functions under the Ministry of Women and Child Development. RMK thrives on bringing about socio-economic development among women. The organisation extends loans for women belonging to Self-Help Groups (SLG), Joint-Liability Groups (JLG), etc. through Non-Governmental Organisations (NGO), Voluntary Organisation (VO) and Intermediary Organisations (IMO).

The idea behind providing credit to women through RMK is to support, promote and expand entrepreneurship skills among the female population.

4. Mahila e-Haat

Aimed at facilitating and widening the marketing platform for women entrepreneurs, the program was launched on 7th March 2016. These were basic objectives of the initiative –

  • Supporting ‘Make in India’ by building a strong marketing platform.
  • To assist women entrepreneurs by providing them with a web-based marketing platform.
  • Help the women entrepreneurs to showcase the manufactured products and further raise capital for business.

Financial inclusion of women entrepreneurs in India is also a key agenda of Mahila e-Haat.

5. MUDRA Yojana Scheme for Women

images (1)

The Government of India has regulated various financial institutions to extend MUDRA loan to women who are planning to initiate their business enterprises. These business loans are unsecured advances; that is, they do not require any collateral from the borrower. The scheme is divided into 3 categories –

  • Shishu- Loans of up to Rs. 50,000 for small business.
  • Kishor- Loans of up to Rs. 5 Lakh for well-established enterprises.
  • Tarun- Loans of up to Rs. 10 Lakh for the expansion of an already-existing enterprise.

Estimates show that about 75% of the total MUDRA loan (amounting to Rs. 14 Crore) sanctioned till 2019 have been availed by women entrepreneurs. Apart from disbursing these loans, some financial institutions also offer added benefits to the borrowers.

As per the 2015 survey by McKinsey, with equal work participation of women in every sector of the economy, India’s GDP is likely to go up by 16-17% by 2025. All government initiatives starting from training programs to disbursing loan for women are aimed at achieving equal participation of women entrepreneurs in the country.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Recent Posts

Common Reasons For Visiting An Orthopaedic Surgeon Common Reasons For Visiting An Orthopaedic Surgeon
Health4 days ago

Common Reasons For Visiting An Orthopaedic Surgeon

Have you suffered regular knee or back pain? Do you feel tired or stiff for a long time after resting...

Best Wholesale Beauty Product Suppliers In 2020 Best Wholesale Beauty Product Suppliers In 2020
Business5 days ago

Best Wholesale Beauty Product Suppliers In 2020

Beauty products include a range of goods that are used to care and enhance the appearance of your face, hair,...

Big Things A Digital Marketing Business Conducts Big Things A Digital Marketing Business Conducts
Tech1 week ago

Big Things A Digital Marketing Business Conducts

The customary word “ad” is defined as a communication procedure between the group of onlookers and the imminent business moving...

International Shipping In A Global Pandemic International Shipping In A Global Pandemic
Business1 week ago

International Shipping In A Global Pandemic

The Covid-19 pandemic completely turned the world on its head, in more ways than one. Beyond the devastating medical challenges,...

8 Ways To Reduce Stoke Risk 8 Ways To Reduce Stoke Risk
Health1 week ago

8 Ways To Reduce Stoke Risk

Stroke is the fifth leading cause of death in the United States. To help you understand how severe and common...

Top Whey Protein Recipes To Lose Your Body Fat Top Whey Protein Recipes To Lose Your Body Fat
Lifestyle2 weeks ago

Top Whey Protein Recipes To Lose Your Body Fat

Losing weight and keeping the kilos off is not an easy thing to do. Everything from what you consume to...

5 Amazing SEO Tools to Spy On Your Competitor's Website 5 Amazing SEO Tools to Spy On Your Competitor's Website
Tech2 weeks ago

5 Amazing SEO Tools to Spy On Your Competitor’s Website

So, you’re running an online business, and you surely want your business to get the best results. But, there are...

Keep .eu Domain After Brexit Keep .eu Domain After Brexit
Tech3 weeks ago

Keep .eu Domain After Brexit

Domains are becoming as essential as someone’s own home in the world of internet. Internet users are always looking for...

How To Use Apple Cider Vinegar With Mother To Maximize The Health Benefits How To Use Apple Cider Vinegar With Mother To Maximize The Health Benefits
Lifestyle3 weeks ago

How To Use Apple Cider Vinegar With Mother To Maximize The Health Benefits

Apple cider vinegar is used in many different household chores like floor washing, cleaning, doing dishes, vegetables and fruits washing,...

8 Tips from Dermatologists For Gorgeous Skin 8 Tips from Dermatologists For Gorgeous Skin
Health3 weeks ago

8 Tips from Dermatologists For Gorgeous Skin

We all wish of a flawless and glowing skin, but it’s not always easy to figure out the skin care...

Uterine Fibroids: What Are Its Causes, Symptoms, and Treatments? Uterine Fibroids: What Are Its Causes, Symptoms, and Treatments?
Health3 weeks ago

Uterine Fibroids: What Are Its Causes, Symptoms, and Treatments?

Uterine Fibroids are non-cancerous tumors that develops in a woman’s uterus. They are also called leiomyomas or myomas and appear...

Electric Stove or Gas Stove? Which One is Better? Electric Stove or Gas Stove? Which One is Better?
Home Improvement4 weeks ago

Electric Stove or Gas Stove? Which One is Better?

While remodeling your kitchen to include some kitchen essentials or buying a whole new house, you might be comparing electric...

6 Surprising Health Benefits Of Making Origami 6 Surprising Health Benefits Of Making Origami
Health4 weeks ago

6 Surprising Health Benefits Of Making Origami

It has been centuries since Origami has been developed, and until now, people still use this art. This is not...

Personal Protective Equipment That Protects You From Workplace Hazards Personal Protective Equipment That Protects You From Workplace Hazards
General4 weeks ago

Personal Protective Equipment That Protects You From Workplace Hazards

The workplace is full of hazards. Whether you’re working in the construction sector, the automobile industry, manufacturing, or any other...

3 Tips to Finding Financial Savings 3 Tips to Finding Financial Savings
Finance4 weeks ago

3 Tips to Finding Financial Savings

If you’ve not been doing the best of job finding savings over time, don’t you think now would be a...

Categories

Archives

Trending