BHUBANESWAR: Chief Minister of Odisha Naveen Patnaik Monday distributed interest subvention benefits for the first 2 quarters of FY 2022-23 worth Rs 125 crore to over 2,50,000 self-help groups (SHGs).
On this occasion, the Chief Minister said that for his government, women's empowerment is not a slogan, but a non-negotiable code. Launched in 2001, Mission Shakti has helped transform the background of women's empowerment and autonomy in the state, he said.
The Chief Minister had announced 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 Panchayat Level Federations, and the creation of micro and mini industrial parks in all 30 districts during the Make in Odisha Conclave 2022 to encourage women entrepreneurship.
Patnaik said his government has increased the interest subvention benefit on self-help group loans from Rs 3 lakh to Rs 5 lakh making it 0% effective annual rate of interest under Mission Shakti loan - state interest subvention scheme starting in April 2022. He said that he wants to see SHGs transformed into SMEs (small & medium enterprises).
Committed to the aforesaid cause, the state government disbursed interest subvention benefits for the first 2 quarters of 2022-23 to over 2,50,000 SHGs on Monday.
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