consultantsreview logo

Consultants Review Magazine

5 Government Schemes to Empower Women Entrepreneurs

By Tanuja Akkannavar

Women are rising in the sphere of entrepreneurship and strengthening it in a progressive manner. Women have the ability to transform circumstances when they want to, and it has been noticed that women have been highly consistent with advancement. Women who want to make their own income and operate a business are appreciated nowadays. And if you're a woman seeking to establish herself and overall cognition in the business, this could be an excellent approach to do it by disintegrating social barriers and proving yourself as a strong brilliant individual, potentially better than the men in some scenarios.

Even though women encounter problems in their homes and in community when attempting to become entrepreneurs, there's never been a good opportunity in India. The government of India has launched initiatives to make things easier for women to start businesses. Throughout this article, we will discuss the top five government schemes for female entrepreneurs in india.

1. Annapurna Scheme –
This loan is intended for women in the food and catering business who are still building small-scale businesses. Through this women entrepreneur scheme, entrepreneurs can use the loan to cover expenses such as purchasing materials and equipment, setting up vehicles, and so on. Women can sell packaged food items and snacks under this plan, which is one of the most typical companies that female entrepreneurs seek out and flourish in because it is something which women have been managing their entire lives and are familiar to. This increases their revenues as they have a higher chance of getting better money and innovative products to start their firm than they might otherwise. The scheme has a lending ceiling of Rs. 50,000.

2. Mudra Yojana Scheme –
Mudra Loan is an Indian government scheme for women's empowerment that is best suited to entrepreneurs or potential candidates. The scheme's intended audiences are not only women, but it is an effective instrument for women. Women who want to grow their small-scale business or begin their entrepreneurial path should look for it. This plan is ideally suited for beauty parlours, tuition centres, tailoring units, and other similar businesses. Individual loans of up to Rs.50 lakh are made available; moreover, a women inclined to work collaboratively can also apply to the scheme. This scheme has a loan limit of INR 50000 to INR 10 lakh. If a woman wishes to go above the INR 10 lakh limit, she must provide securities and guarantors.

3. Bharatiya Mahila Bank Business Loan –
This banking scheme was created in order to help women and their enterprises on a massive scale scale. Number of women entering diverse areas of business and are making efforts for accomplishment. This bank's vision is to provide women with economic empowerment. The maximum loan amount available through this channel is Rs.20 crores.

4. Orient Mahila Vikas Yojana Scheme –
This scheme is for women who own 51 percent of a private firm, either individually or jointly. This is a fantastic chance for these investors to assist grow their operations and contribute to the advancement of their sector. The scheme does not require guarantor and offers a discount of up to 2% on interest rates. The payback time is adjustable up to 7 years, and the loan amount is limited to Rs. 25 lakhs.

5. Dena Shakti Scheme –
This scheme is for women who work in agriculture, manufacturing, micro-credit, retail businesses, or other comparable business sectors. Women can obtain financing under the micro-credit category for a necessity of up to INR 50,000, with a 0.25 percent interest rate reduction. Women in education, housing, and retail business, on the other hand, can receive up to INR 20 Lakhs. Dena Bank offers this loan, and women interested in applying should go to their nearest branch.

Magazine Current Issue