The Finance Ministry released figures of women participation in various schemes on the occasion of International Women’s Day highlighting the gradual shift in the socio-economic conditions of women.
It stated that women have been the majority beneficiaries of several schemes launched by the Centre. The specific focus on the women population has also translated in silent but dedicated voters for the Narendra Modi-led NDA government in several elections.
“The Ministry of Finance, in the past seven years, has launched various schemes which have special provisions for empowerment of women. These schemes have financially empowered women to lead a better life and chase their dreams of being an entrepreneur,” the ministry said in a statement.
Under the Stand Up India scheme formulated to promote entrepreneurship at grass root level, over 81 per cent of the beneficiaries are women. The Stand Up India scheme launched on April 5, 2016 was to reach out to the under-served sector of people such as Scheduled Castes and Scheduled Tribes, and women entrepreneurs. The objective of this scheme was to facilitate bank loans between Rs 10 lakh and Rs 1 crore to at least one SC/ST borrower and at least one woman borrower per bank branch for setting up a greenfield enterprise. As on February 26, more than 81 per cent―91,109 accounts―with an amount of Rs. 20,749 crore have been sanctioned to women entrepreneurs.
In case of Pradhan Mantri Mudra Yojana (PMMY), launched on April 8, 2015 for providing loans up to 10 lakh to the non-corporate, non-farm small/micro enterprises. In last six years, about 68 per cent―19.04 crore accounts with an amount of Rs. 6.36 lakh crore―have been sanctioned to women entrepreneurs under MUDRA scheme since inception.
The Modi government’s flagship Pradhan Mantri Jan-Dhan Yojana, launched on August 28, 2014, had brought large chunk of population into the finance literacy, access to credit and insurance benefits. By February 26, 23.21 crore accounts, out of the total 41.93 crore accounts opened under the scheme belonged to women.
The encouraging participation in government financial schemes meant they would be capable of managing their finances confidently and encouraged to take own decisions.
