Rs 50,000 crore loans for women self-help groups in Odisha
Odisha chief minister Naveen Patnaik on Monday announced that loans of Rs 50,000 crore would be disbursed to women self-help groups (SHGs) across the state over the next five years.
“Women’s empowerment is not a slogan, but a non-negotiable code,” Naveen said while disbursing interest subvention benefits for the first two quarters of 2022-23 worth Rs 125 crore to more than 2.5 lakh women SHGs.
He addressed thousands of SHG and federation leaders, connected virtually from across 314 blocks and 30 districts, and all-controlling heads of banks encouraging them to embark on the transformational journey of selfhelp groups to small and medium enterprises.
“Over the next five years, Mission Shakti has provisioned to provide interest subvention benefits amounting to Rs 1,200 crore to SHGs,” Naveen said.
With institutional finance, Mission Shakti SHGs have been able to own and operate women-led enterprises, thereby significantly contributing to local economies.
“Over the last five years, around 4 lakh SHGs have been credit linked with loans amounting to Rs 17,000 crore. The increase in interest subvention benefit shall certainly boost the credit flow to SHGs, increase the average loan size and reduce the non-performing assets (NPA) position,” Naveen said.
“Launched in 2001, Mission Shakti has helped transform the landscape of women’s empowerment and autonomy in the state,” said a media release issued by the chief minister’s office.
Naveen had announced during the Make in Odisha Conclave 2022 a revolving fund of Rs 1 crore for all district-level federations, a revolving fund of Rs 50 lakh for all block-level federations, an office building with a market complex for all gram panchayat-level functionaries and establishment of micro and mini industrial parks in all 30 districts to nurture entrepreneurship among women.