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India is the second largest consumer market in the world. There have been millions of business success stories in the last decade in sectors such as food, beauty, travel, automobile, entertainment and innovation, but according to a survey by NSSO, women’s business participation in India is just 8%. Generally, the family helps men in doing business in the country, but it happens less with women.
After Kovid-19, Prime Minister Narendra Modi has given the mantra of ‘Opportunity in disaster’ and ‘Self-reliant India’. In such a situation, this is the right opportunity for women to start their own business. There is no shortage of money in starting a business for women, so the government is running many schemes. Here we are telling you about 8 such schemes, with the help of which women can start their own business….
1. Annapurna Yojana: 50 thousand loan for food catering business
Under this scheme, the Government of India gives loans of up to 50 thousand rupees to women entrepreneurs for the business of food catering. This amount can be used for buying utensils, taking gas connections, fridges, mixers, tiffin boxes and dining tables.
A guarantor will be required for this loan. This loan will have to be repaid in 36 months. The rate of interest on the loan taken under Annapurna Scheme will be determined according to the market. At present, this scheme can be availed from State Bank of India.
2. Stree Shakti Package: Women get discount on loan
This scheme is for women who hold more than 50% stake in a business. In addition, it will be necessary to register those women in the state’s enterprise development program. For small business, loans from 50 thousand to 2 lakh rupees are given through this package.
Companies registered in MSME can be given loans ranging from 50 thousand to 25 lakh rupees. No security will have to be given for up to 5 lakh rupees. Also, the interest rate of the loan will be discounted. To take advantage of Stree Shakti package one has to contact State Bank of India.
3. Mudra Yojana: Loans for all types of businesses
Pradhan Mantri Mudra Yojana has been launched by the government to promote small entrepreneurs. Loans from 50 thousand to 50 lakh rupees can be taken from any national bank through this scheme. With the help of these funds, women can start businesses in beauty parlors, tuition centers, tailoring, etc. No guarantor or security will be required for loans up to Rs 10 lakh.
There are three types of plans in Mudra Yojana-
Infant Loans up to 50 thousand rupees are given for new business. It takes an interest of 12% per annum. It can be paid in 5 years.
Kishore: In this, loans from 50 thousand to five lakh rupees are given to increase the business already running. According to your credit history, the bank determines the rates of loan depositing and interest.
Tarunah In this, loans from 5 lakh rupees to 10 lakh rupees are given to increase business. According to your credit history, the bank determines the rates of loan depositing and interest.
4. Women Enterprise Fund: Loan up to 10 lakhs for 10 years
Punjab National Bank (PNB) and Small Industries Development Bank of India (SIDBI) provide loans up to Rs 10 lakh for financial assistance to women entrepreneurs. It can be paid over a period of 10 years. For this, the interest rates are decided on the basis of the market.
Under this scheme, SIDBI runs separate plans for opening beauty parlors, running day care centers, buying auto rickshaws, buying bikes and cars. With the help of this scheme, an already ongoing project can also be extended.
5. Mahila Samridhi Yojana: Efforts to raise backward women
This scheme has been introduced to promote economically and socially backward women. The bank gives a loan of up to 60 thousand rupees for the expenses incurred in starting its business. It has to be paid in 3 years 6 months. For this, only 4% interest is to be paid annually.
Women living below the poverty line (BPL) can avail this scheme. There is no need to submit any guarantor or security for this. To avail this scheme one has to contact your nearest bank.