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Interest-Free Loans Upto Rs 10 Lakh Announced For SHGs In Odisha

Updated: Feb 28, 2024 05:23:58pm

Interest-Free Loans Upto Rs 10 Lakh Announced For SHGs In Odisha

Bhubaneswar, Feb 28 (KNN) Odisha Chief Minister Naveen Patnaik unveiled interest-free loans of up to Rs 10 lakh for members of Self-Help Groups (SHGs) as part of the Mission Shakti program, on Tuesday.

Patnaik made this announcement during the inauguration of a Mission Shakti Bazaar, underscoring how these interest-free loans would serve as a catalyst for women's entrepreneurship, thereby advancing the Mission Shakti movement across the state.

The primary objective of the bazaar is to streamline the marketing of SHG products throughout Odisha, the chief minister added.

Furthermore, Patnaik allocated Rs 145 crore towards interest refunds and detailed plans to establish 5,000 Mission Shakti Bazaars over the next five years. He also earmarked Rs 730 crore for 70 lakh women SHG members and Rs 1.5 lakh for Mission Shakti leaders to procure uniforms and blazers.

Patnaik emphasised the substantial financial support received by SHGs, amounting to Rs 15,000 crore this year alone, with projections of receiving Rs 75,000 crore over the next five years.

He reiterated his unwavering commitment to the Mission Shakti program, highlighting the state government's steadfast dedication to women's development as integral to shaping the future of Odisha.

The Mission Shakti Bazaar is set to showcase a diverse array of over 1,000 products, including handicrafts, handlooms, food items, forest produce, health and personal care products, traditional jewellery, and household goods, available both online and offline.

Sujata Kartikeyan Rout, Secretary of Mission Shakti, emphasised the transformative impact of interest-free loans on SHGs, empowering women economically and facilitating exposure trips to enhance their entrepreneurial acumen.

(KNN Bureau)


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