Women entrepreneurs in Bihar now have more reasons to cheer. The state government has decided to set up a venture capital fund especially for women entrepreneurs. It has also decided to give more capital subsidies to them.
"Our government is committed for the social, political and financial empowerment of the women.," Industries Minister Renu Kushwaha told in the state assembly, "Industries department has decided to give special encouragement to women entrepreneurs.
Therefore on the occasion of International Women's Day, we would like to announce a venture capital fund especially for the women entrepreneurs. Through this fund, financial assistance will be provided to women entrepreneurs."
The state government has also decided to give more subsidies to them. The minister told, "Apart from this, we have also decided to give more subsidies to women entrepreneurs.
From next financial year, they will be entitled of 5 percent more subsidy than their male counterparts. And if their annual turnover is more than Rs. 30 lakhs, they will get 100 percent reimbursement of VAT for 10 years."
Nodal agency for the project has finalised a consortium of SBI, Bank of India and IDBI to work out on raising the requisite fund
India's GDP growth, after registering a sub-5% rate in two financial years, grew 5.7% in the first quarter of FY15