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In India, the government is encouraging Women’s Empowerment with government schemes for women entrepreneurs. One of the women’s empowerment is financial freedom for women. The woman is the powerhouse and can work relentlessly but in a silent mode.
Women too have dreams to accomplish but societal norms restrict them from starting something independently. It’s never too late to start something new or take a new risk.
The most common thought that comes to the mind of most of the population. But the need for these empowering schemes has stemmed from our society itself. The existing patriarchal structure of our society forces women to be dependent on the male members of the family.
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To end this dependence and to make women financially independent, women’s entrepreneurial schemes are being encouraged. The government has also initiated various schemes for those who wish to start their enterprise. Low-rate interest loans and subsidies on agricultural products have also been rolled out to empower the economy.
But women-specific schemes stand like a gateway. Where women are not only welcomed but are also given business advice to stand and flourish. If reports are to be believed then women-founded or co-founded start-ups are less than six investments.
To increase this number women have come up with a lot of schemes that would help them start their businesses and be role models not the next generation of women. These government schemes for women entrepreneurs would give women wings to fly and reach the sky. Here are
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List of Top 6 Government Schemes For Women Entrepreneurs In India
1. Bhartiya Mahila Bank
Then Prime Minister Manmohan Singh introduced this initiative in 2013 on the birth anniversary of the country’s first and only female prime minister, Indira Gandhi. Bhartiya Mahila Bank is the first bank in India that is women-centric and caters to all the banking needs of women.
The bank disburses loans of up to Rs 20 crores for manufacturing units. The Credit Guarantee Fund Trust for Micro and Small Enterprises offer collateral-free loans up to Rs 1 crore and a repayment period of seven years.
The basic interest rate offered is 10%, upon which 2% additional interest is added making it 12%, making it a lucrative scheme for women entrepreneurs. Women aged 21 to 70 are eligible for this scheme.
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2. Stree Shakti Scheme
The central government of India along with the State Bank of India have come up with this woman-centric scheme.
This is a tailored business scheme, especially for women business makers. If you are a women entrepreneur who has a capital share of 51% as a partner, shareholder or director of a private company then this scheme is useful for you.
The scheme offers a loan of up to Rs 50 lakhs. The rate of interest is completely dependent on the current rate of interest at the time of availing a loan. You can get a concession of 0.5% if the loan amount exceeds Rs. 2 lakhs. You must own 50% of the enterprise if you are availing the loan.
3. Annapurna Scheme
Annapurna is the goddess of food and if you are interested in opening up your business in the food sector then the central government under the Annapurna Scheme. You can own restaurants, catering businesses, or any other food-related enterprises if you want to avail loan under this scheme.
You can use the loan amount of up to Rs 50,000 to buy kitchen equipment or new utensils required for their initiative. The repayment duration of the loan is three years, and it can be repaid in 36 instalments.
A grace period of 1 month is given for the repayment of the loan after it is sanctioned to the debtor. The interest rate depends on the market rates.
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4. Dena Shakti Scheme
The central government along with Dena Bank have come up with a loan scheme for women entrepreneurs who are involved in manufacturing, retail stores, micro-credit and agricultural businesses.
You can avail the maximum amount of loan levied up to Rs 20 lakhs, while for micro-credit, the loan amount is Rs 50,000.
A relaxation of 0.25% is given on the prevailing market interest rate. The scheme is open to those entrepreneurs who own more than 50% stake in the organization.
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5. Mudra Yojana Scheme for Women
If you are interested in providing services such as tuition classes, tailoring centres or a beauty parlour, among others then you can avail of loans under this scheme. Through the Mudra Yojana Scheme for Women, small-scale enterprises and groups of women who aspire to start their cooperatives can also apply for this scheme.
The good part of this loan is that it doesn’t require any collateral support, and is demarcated into three categories of procurement viz Shishu in which a loan of Rs 50,000 can be utilized if you are in the early stage of their business, Kishor in which loan amount in the range of Rs 50,000 – Rs 5 lakh, can be availed if you have a well-established business and if you want to scale your operations then you can avail a loan of Rs 10 lakhs.
A mudra card is given to the debtor which resembles a credit card with a limit of 10% less than the granted loan.
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6. Cent Kalyani Scheme
the Central Bank of India has introduced this scheme. This scheme aims to help a woman who works with SMEs and in the agricultural field. You can avail loan in this scheme if you are a village woman and if you are self-employed or even work in cottage industries.
Under the Cent Kalyani Scheme, you are involved in sectors like handloom weaving, food processing and handicraft, which are all covered. A maximum loan of Rs. 100 lakhs can be provided, and no collateral is required. Interest rates are dependent on the current market rate.
To increase the number of women entrepreneurs in India and to give Indian women a chance to fulfil their career desires. The Indian government have come up with these economic schemes so that women can shine in the start-up ecosystem. The government is encouraging a lot of entrepreneurs, especially women.
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The government envisaged that an increasing pool of women entrepreneurs could serve as role models for younger generations. Even today in the 21st century we have a very small number of women entrepreneurs compared to men entrepreneurs.
Today’s start-up ecosystem needs more and more women entrepreneurs. The main reasons for women entrepreneurs are lack of support and financial investment.
With these government schemes for women entrepreneurs, the government is lending a hand for women in India to break free the societal norms and rise high to reach the sky. We wish that your business flourishes day and night.
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