Rajasthan's scheme turns women into entrepreneurs, provides Rs 1 cr loan

The Rajasthan government's Indira Mahila Shakti Udhyam Protsahan Yojana has become popular among women wanting to become entrepreneurs. Under the scheme, the state government is providing loans of up to Rs 1 crore to women. This is for those who want to start their own enterprises and self-help groups (SHGs).

Besides, a subsidy of a maximum 30 per cent is also given on the loans. The state government wants to empower women and make them self-reliant through this initiative.

It is fulfilling the dreams of women, who are unable to start their own enterprises due to lack of capital.

The scheme was started in 2019, and till now, 1,141 women entrepreneurs, SHGs and clusters have been sanctioned loans of more than Rs 57.60 crore in urban and rural areas.

The state’s women are moving ahead in self-employment by starting handicrafts, agriculture and food processing-based industries. Apart from setting up a new enterprise, women can also take loans for expansion and modernisation of their businesses.

“To avail of benefits of the scheme, a woman has to be 18 years or above and a domicile of Rajasthan. Women entrepreneurs or SHGs are given loans up to Rs 50 lakh while a loan of up to Rs 1 crore is given to the cluster of SHGs or federation,” said a senior state government official.

He said a subsidy of 25 per cent is given on loans approved under this scheme, while a subsidy of 30 per cent is given to women from SC/ST, widows, abandoned, and disabled.

The loans are provided by nationalised banks, scheduled commercial banks and scheduled small finance banks in the private sector, authorised by the Reserve Bank of India (RBI), Rajasthan Finance Corporation and through SIDBI.

The objective of this scheme is to make efforts to create an environment in the state in which the contribution of women is accepted. It will help them live without fear, with self-respect and dignity as they would become financially independent.

Neetu Jangid of Toda Bata village in Jaipur district, who presently runs a provision store, said that she wanted to start her business but could not do so earlier for want of sufficient capital.

“I came to know about this scheme and applied for a loan. The state government approved a loan of Rs 2.85 lakh,” she said.

She has also started an SHG inspired by this scheme, to help other women in fulfilling their dreams.