Odisha CM distributes interest subsidy of Rs 125cr to 2.50 lakh SHGs
On this occasion, Patnaik said that for his government, women’s empowerment is not a slogan, but a non-negotiable code.
Launched in 2001, Mission Shakti has helped transform the landscape of women’s empowerment and autonomy in the state, he said.
To nurture entrepreneurship among women, the Chief Minister had announced during the 2022 Make in Odisha Conclave a revolving fund of Rs 1 crore for all District Level Federations, Revolving Fund of Rs 50 lakh for all Block Level Federations, office building with market complex for all panchayat federations and establishment of micro and mini industrial parks in all 30 districts.
Patnaik said he wants to see the transformation of SHGs into SMEs (Small and Medium Enterprises) and said his government has also increased the interest rate subsidy payment on SHG loans from Rs 3 lakh to Rs 5 lakh, making it 0 percent effective annual interest rate will be under Mission Shakti Loan – State Interest Subsidy Scheme from April 2022.
Committed to the above cause, the state government on Monday disbursed interest subsidies for the first two quarters of 2022-23 to more than 2,50,000 SHGs.
Over the next five years, Mission Shakti has made provisions to distribute loans amounting to Rs 50,000 crore and to provide interest subsidies amounting to Rs 1,200 crore to the SHGs, Patnaik said.
With institutional funding, Mission Shakti’s SHGs have been able to own and operate women-led businesses, making significant contributions to local economies.
In the past five years, about 4 lakh of SHG’s credit has been linked to loans amounting to Rs 17,000 crore, he stressed.
The Chief Minister also virtually inaugurated the Jajpur District Federation’s District-Level Building – the first of its kind.
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