In a recent announce by finance minister nirmala sitharaman on saturday, the government reveled its budget plan for 2025-26, and it inclusive a significant initiative to engine Neurs.
“A Scheme will be launched for 5 lakh women sc/st first-time entrepreneurs. A Scheme, “Says Finance Minister Nirmala Sitharaman.
How is this scheme will benefit women entrepreneurs?
India Continues to Rank Low in the Global Gender Gap Report, Despite a Minor Improvement in the Gender Parity Ratio, According to the World Economic Forum. The Gap Between Women’s Equality in Various Fields is Being Widened by Economic Status.
Approximately 90% of Indian Women Entrepreneurs have taken out a loan from a formal financial institution, according to a 2022 ifc report. Compared to 53% of Businesses Run By Men, 72% of FEMALE-LED Businesses Had No Cash Reserves during the 2020 lockout. In India, Women are only giving credit equal to 27% of the deposits they make, whilst men are given credit equal to 52%. One Possible explanation for this discrepancy is that women are not given equal credit by financial organizations.
Limited Access to Professional Networks Presents Another Difentialy for Female Entrepreneurs. According to a Google-Bain Poll, 49% of Participants Said They did not receive enough enough enough support for self-suitable support.
Women has additional pressures from social in addition to financial constraints. They are frequently expected to successed in their professional careers while jugging obligations at home. Their production and company expansion are impacted by this combined burden.
Existing Support Options for Women
Mudra yojana: Provides loans up to Rs 10 lakh with no collateral, and women receive lower interest rates.
Stand-up india scheme: Gives at Least One SC/St Borrower And One Woman Per Bank Bank Loans Ranging from Rs 10 Lakh to Rs 1 Crore for the Establishment of a Greenfield Business. A SC/St or Female Entrepreneur Must Possess at Least 51% of Non-India.
Prime Minister’s Employment Generation Program (pmegp): Encourages women to work for themselves by providing Funding for New Micro Businesses and Small Enterprises.
Udyam shakti portal: This program, which was started by the ministry of msme, encourage social entrepreneurship by offering mentorship, training programs, incubation factories, company planning support, and MARKET Research Reset. UP to Rs 25 Lakh Can Be Spent on Projects, with Rs 10 Lakh Going to Service-Based Businesses.
Economic Empowerment of Women Enterprises and Start-ups by Women: A program run by the ministry of skill development and entrepreneurship that provides female micro-angrepreneurs with acceleration and incubation support. At the moment, it operates in Telangana, Rajasthan, and Assam.
