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Grants for women entrepreneurs

India’s population demographic has immense potential for growth. In the next decade, the country will have the world’s largest pool of working-age people, with an estimated 1 billion working force. For this to translate into economic and social growth, an equivalent number of jobs need to be created.

Encouragement of entrepreneurship may promote self-sufficiency while simultaneously generating employment. Women-owned businesses promote both equality and growth. According to reports, women-owned firms create more jobs than male-owned enterprises, take more measured risks, and are less prone to be overconfident. Because of their inherent multitasking ability and expert reprioritization, women become great leaders and successful entrepreneurs.

For female MSMEs owners, the government and public institutions around the country are offering lucrative incentives to support these businesses and make it simpler for them to obtain financing. There are age restrictions, loan limitations, and conditions associated with these loans, which we urge you thoroughly review before proceeding with the loan. However, in brief, let us look at how different organizations promote women through various schemes-

1. MUDRAYOJANA SCHEME- It is a Government of India programme that aims to enhance the status of women in India by giving business loans and other support so that they may become financially independent and self-sufficient. They will be handed Mudra cards, which operate like credit cards and have a withdrawal limit of 10% of the loan amount, when the loan is approved. This programme offers different sorts of programmes according on the type of business, the amount of expansion, and the loan goal. The government's lending limit under this plan is Rs. 10 lakhs.

2. DENASHAKTI SCHEME- The Dena Shakti Scheme offers women entrepreneurs in agricultural, manufacturing, microfinance, retail shops, and other small businesses loans of up to Rs 20 lakh. The micro-credit category of the plan offers loans of up to Rs 50,000. The rate of interest is set in accordance with Dena Bank's existing norms and RBI directions. Women recipients get a concession or refund of 25 basis points in the rate of interest applicable to current activities, subject to Dena Bank restrictions.

3.MAHILAUDYAMNIDHI SCHEME- Under this initiative, the Small Industrial Development Bank of India (SIDBI) provides financial support to women entrepreneurs at low interest rates. The Mahila Udyam Nidhi plan offers a woman up to Rs. 10 lakhs to start a small-scale manufacturing, production, or service business. This loan can also be used to expand an existing woman-owned firm. Several public-sector banks in India are offering the loan for up to ten years.

4.ANNAPURNA SCHEME- This loan is available to women in the food catering sector who are still developing small-scale enterprises. The loan enables these female entrepreneurs to use it for capital necessities such as purchasing equipment and utensils, setting up vehicles, and so on. Women can sell packaged food items and snacks under this plan, which is one of the most frequent businesses that female entrepreneurs seek out and thrive in because it is something that housewives have been managing their entire lives and are accustomed to. This increases their sales since they have a greater chance of getting better finance and new items to start their firm than they might otherwise. The plan has a borrowing ceiling of Rs. 50,000.

SUMMARY- Women are expanding and developing the sector of entrepreneurship in a dynamic manner. Women have the ability to change things when they want to, and it has been noticed that women have been highly consistent with development. Women who want to make their own money and run their own businesses are encouraged in this day and age because of the success their gender has achieved in the area. While women encounter obstacles in their households and in society while attempting to become entrepreneurs, there has never been a greater moment in India. The government has launched measures to make it simpler for women to start their own businesses.

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