Free Loans: In preparation for the Uttar Pradesh Assembly elections, the Yogi Adityanath administration is gearing up to introduce a significant initiative aimed at empowering women economically. Through the Uttar Pradesh Women Entrepreneur Credit Scheme, interest-free loans of up to 1 lakh rupees will be granted to 10 million women affiliated with self-help groups (SHGs) for women. The government is set to launch this scheme actively before the Assembly elections.
Reportedly, the Uttar Pradesh government is set to offer interest-free loans of up to 1 lakh rupees to 1 crore women involved in self-help groups under the “Women Entrepreneur Credit Scheme.” This initiative will provide loans in stages, starting with Rs 20,000 in the initial phase, with subsequent increases in the loan amount.
Key points to note:
– Loans will be given in phases to women to help them initiate or expand their small businesses.
– The loan amount will escalate after the initial phase.
Additionally, the scheme will progress with the following milestones:
– Initial phase: Loans up to Rs 20,000.
– Second phase: Repayment of the first installment will lead to a loan of Rs 30,000.
– Third phase: Timely repayment of the second installment will unlock a credit benefit of Rs 50,000.
– Successful repayment across phases will result in interest-free loans of up to one lakh rupees for women.
The scheme aims not only to provide financial assistance but also to promote self-employment and small enterprises among women.
Preparations for the implementation of the women’s scheme before the elections are underway. The government is expediting the preparations for the scheme. Though details regarding its execution are yet to be fully disclosed. Moreover, special credit cards will be issued to women under the scheme, equipped with digital features for various business needs. The government plans to offer women entrepreneurs access to digital tools like digital payments, marketing, online sales, financial services, and modern business management to expand their businesses into the digital realm.
In addition, discussions included proposals for supporting women in economic activities, such as contemplating the purchase of vehicles worth up to Rs 2 lakh under the e-rickshaw scheme. Plans for establishing 100 Mahila Shakti Kendras were also deliberated, aiming to provide women with support related to government initiatives, financial services, and entrepreneurship.
Deputy Chief Minister Keshav Prasad Maurya of Uttar Pradesh has instructed officials to identify women affiliated with self-help groups and link them with government services and programs. He emphasized the importance of providing these women with identifiers to facilitate their access to services and integrating them into digital platforms to modernize their businesses.