Odisha CM Naveen Patnaik announces interest free loans for women SHGs | Bhubaneswar News

BHUBANESWAR: Chief minister Naveen Patnaik on Saturday introduced interest-free mortgage as much as Rs Three lakh for the women self-help group members (SHGs), a transfer that might profit round 70 lakh women related to six lakh teams.

Announcing it on the Mission Shakti conference in Puri attended by round 70,000 women, the chief minister stated the Mission Shakti initiative has really turn into a silent motion bringing women to the forefront of Odisha’s growth.

“It encouraged entrepreneurship through SHGs and is now empowering them digitally to grow and prosper,” Naveen stated.

The announcement that got here months earlier than the final and meeting polls can be seen as an try and garner assist of women voters throughout polls.

The chief minister additionally launched distribution of seed cash (Rs 15,000 per group) to round three lakh newly-formed SHGs and to these which haven’t but obtained the quantity. Seed cash is the funds allotted to provoke a challenge is given to the women SHGs since they don’t have sufficient financial savings. They can make the most of the quantity to hunt financial institution loans.

Naveen additionally launched the digital empowerment programme of the SHG members by distributing Rs 3,000 to every SHG for buying of smartphones.

The conference additionally witnessed distribution of revolving fund of Rs 25 lakh for every of the 338-block stage SHG federations and incentives to anganwadi staff and helpers to encourage the agricultural women to type SHGs.

Mission Shakti is an initiative began in 2001 aiming at financial empowerment of women by forming SHGs and offering them with loans by banks at low interest price to take up varied livelihood actions.

BJP chief and former bureaucrat Aparajita Sarangi criticized the state authorities’s current announcement. “Anyone claiming a rosy Picture of SHGs in Odisha is welcome to come with me on a random tour for interacting with SHG members. I have seen despondency, lack of direction and guidance for initiating women SHGs into diverse micro-enterprises,” she tweeted.

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