Government Schemes for Women Entrepreneurs in India

Government Schemes for Women Entrepreneurs in India

Indian women have been making great strides in the business world in recent years. According to a report by the National Sample Survey Office, the number of women entrepreneurs in India has increased from 8.05 million in 2011-2012 to 12.93 million in 2019-2020.

This is an amazing feat, considering that just a few decades ago, women were not even allowed to hold property in their own names! 

The Indian government has also taken notice of this trend and has launched several schemes to support women entrepreneurs.

In this article, we will take a look at some of these schemes and how they can help you start and grow your business.

What is the government scheme for women entrepreneurs in India?

The government of India has launched a number of schemes to support women entrepreneurs in India. The main aim of these schemes is to provide technical and financial help to women entrepreneurs so that they can start and grow their businesses..

Some of the popular government schemes for women entrepreneurs in India are:

– The Mahila Udyam Nidhi (MUN) Scheme: This scheme is managed by the Ministry of Micro, Small and Medium Enterprises (MSME). It provides financial assistance to women entrepreneurs for setting up their businesses.

– The Women’s Entrepreneurship Development Programme (WEDP): This scheme is implemented by the Ministry of Women and Child Development. It offers training and financial support to women entrepreneurs for starting their businesses.

– The National Mission for Empowerment of Women (NMEW): This scheme is managed by the Ministry of Women and Child Development. It aims to empower women economically by providing them with access to financial resources, markets, and skills development opportunities.

– The Stand-Up India Scheme: This scheme is implemented by the Reserve Bank of India. It provides loans of up to Rs 1 crore to women entrepreneurs for setting up their businesses.

– The Pradhan Mantri Mudra Yojana (PMMY): This scheme is managed by the Ministry of Finance. It offers loans of up to Rs 10 lakhs to women entrepreneurs for setting up their businesses.

Who is eligible for the scheme?

The government schemes for women entrepreneurs in India are meant for women who are above the age of 18 and are resident of India.

The woman should be engaged in some economic activity to avail the benefits of the scheme. The scheme is also open to women who have been admitted to an educational institution for pursuing higher studies.

What are the benefits of the scheme?

The scheme provides women entrepreneurs with access to credit, mentorship, and business support. It also offers collateral-free loans of up to Rs. 10 lakhs.

The scheme is open to all Indian women aged 18 and above who are interested in starting or expanding their businesses.

How to apply for the scheme?

The government schemes for women entrepreneurs in India are many and varied. To apply for any of these schemes, you will need to first approach the concerned department or ministry and submit a complete business plan along with all relevant supporting documents.

The officials will then assess your proposal and decide if you are eligible for the scheme. If you are, they will provide you with all the necessary information and guidance on how to go about setting up your business.

1. Stree Shakti Yojana

The Indian government has launched several schemes over the years to promote entrepreneurship among women.

One such scheme is the Stree Shakti Yojana, which was launched in 1992. The scheme provides financial assistance to women entrepreneurs for setting up their businesses.

Under the scheme, women entrepreneurs can avail of loans of up to Rs. 10 lakhs at interest rates lower than the prevailing market rates. In addition, they are also eligible for government subsidies and tax breaks.

The scheme has been a success so far, with over 1 lakh women benefitting from it. If you are a woman entrepreneur looking to set up your own business, then do check out this scheme!

2. Mudra Loan for Women

Pradhan Mantri Micro Units Development and Refinance Agency (MUDRA) Loan. The Indian government has created a number of schemes and programs to support women entrepreneurs in India.

One such program is the Mudra Loan, which offers financial assistance to women looking to start or expand their businesses.

The Mudra Loan is a government-backed loan program that provides financing of up to Rs 10 lakh  to women entrepreneurs.

The loan can be used for a variety of business purposes, including working capital, equipment purchases, and business expansion.

To be eligible for the Mudra Loan, women entrepreneurs must have a minimum annual turnover of Rs 60,000. Additionally, they must have been in business for at least one year and have a good credit history.

The Mudra Loan is just one of many government schemes that are available to support women entrepreneurs in India.

Others include the Mahila Udyam Nidhi (MUN), which provides loans of up to Rs 5 lakh for women-owned businesses; the Women Entrepreneurship Platform (WEP), which offers mentorship and support services to women entrepreneurs; and the Self-Employed Women’s Association (SEWA), which provides training and financial assistance to women entrepreneurs.

The Pradhan Mantri Micro Units Development and Refinance Agency (MUDRA) Loan is a government-backed loan program that provides financing of up to Rs 10 lakh for small businesses.

The loan can be used for a variety of business purposes, including working capital, equipment purchases, and business expansion.

The MUDRA Loan is just one of many government schemes that are available to support small businesses in India.

Others include the Prime Minister’s Employment Generation Programme (PMEGP), which provides loans of up to Rs 2 crore for small businesses; the Stand-Up India Scheme, which offers loans of up to Rs 10 lakh for women-owned and SC/ST-owned businesses; and the Pradhan Mantri Mudra Yojana (PMMY), which provides loans of up to Rs 1 lakh for micro enterprises.

3. Dena Shakti Scheme

The Dena Shakti Scheme is a government scheme that provides financial assistance to women entrepreneurs in India. The scheme was launched in 2014 and is open to all Indian women who are 18 years of age or older.

Under the scheme, women entrepreneurs can receive up to Rs. 1 lakh (approximately US$1,500) in financial assistance.

The money can be used for business purposes such as buying equipment, raw materials, or for any other purpose that will help the woman entrepreneur to start or expand her business.

To be eligible for the scheme, the woman entrepreneur must have a valid business idea and a clear business plan.

She must also be able to demonstrate her commitment to the business by investing her own money in it. In addition, she must have a bank account in her name and should not have availed of any other government schemes for women entrepreneurs.

Applications for the Dena Shakti Scheme can be submitted online on the website of the Ministry of Women and Child Development.

4. Annapurna Scheme

The Annapurna Scheme is a government scheme in India that provides financial assistance to women entrepreneurs.

The scheme was launched in 2016 and is currently ongoing. The scheme provides financial assistance of up to Rs. 1 lakh to women entrepreneurs, who can use the funds for various purposes such as starting or expanding their businesses, buying equipment or raw materials, or for training and capacity building programs.

Read also: Top 7 Government Loan Schemes for Small Business in India

The Annapurna Scheme is part of the government’s larger efforts to support and promote women entrepreneurship in India.

In addition to the financial assistance provided under the scheme, the government also offers other support services such as business counseling and mentoring, access to market information and linkages, and networking opportunities.

5. Udyogini Scheme

The Udyogini Scheme is a government initiative in India that seeks to promote women entrepreneurship.

The scheme provides financial assistance and support services to women entrepreneurs, including training and mentoring. The scheme also offers preferential treatment to women-owned businesses in government procurement.

6. Bhartiya Mahila Bank Business Loan

The Bhartiya Mahila Bank (BMB) offers business loans specifically for women entrepreneurs in India. This scheme is designed to provide financial assistance to women who wish to start or expand their businesses.

Under the scheme, women can apply for loans of up to Rs. 10 lakhs at a competitive interest rate. The loan can be used for a variety of purposes, including working capital, purchase of machinery, equipment or vehicles, and construction or renovation of business premises.

The government has also introduced several other schemes specifically for women entrepreneurs, such as the Women’s Entrepreneurship Platform (WEP) and the Women’s Self-Help Group (SHG) Loan Scheme.

These schemes provide women with access to training, mentorship, and financial support so that they can start and grow their businesses.

7. Orient Mahila Vikas Yojana Scheme

The Government of India has launched a number of schemes to support and encourage women entrepreneurs in India. One such scheme is the Orient Mahila Vikas Yojana Scheme, which was launched in 2014.

The scheme provides financial assistance to women entrepreneurs for setting up their businesses. It also offers training and capacity building support to women entrepreneurs. The scheme has been successful in promoting women entrepreneurship in India and has helped many women set up their own businesses.

8. Mahila Udyam Nidhi Yojana

The Mahila Udyam Nidhi Yojana is a government scheme that provides financial assistance to women entrepreneurs in India.

The scheme is offered by Small Industries Development Bank of India (SIDBI),Punjab National Bank and administered by the Ministry of Micro, Small and Medium Enterprises.

Under the scheme, women entrepreneurs can apply for loans of up to Rs. 10 lakhs at interest rates of 2% per annum.

The loan amount can be used for a variety of purposes, including business expansion, working capital, and purchase of machinery and equipment.

To be eligible for the loan, women entrepreneurs must have been in business for at least two years. In addition, they must have a good credit history and should not have any outstanding dues on previous loans.

Applications for the loan can be made through any of the district industries centres or banks that are participating in the scheme. The loan approval process takes about 45 days.

The Mahila Udyam Nidhi Yojana is just one of several government schemes that are available to support women entrepreneurs in India. Others include the Mudra Yojana and the Prime Minister’s

Conclusion

The Indian government offers a number of schemes and programs to support women entrepreneurs. These initiatives provide access to finance, training, and mentorship, and help women entrepreneur’s start and grow their businesses.

While the government’s support is crucial, women entrepreneurs also need to take advantage of these opportunities and put in the hard work to make their businesses succeed.

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