The union budget has proposed the expansion of women self-help groups (SHG) interest subvention to all districts in India. Finance Minister Nirmala Sitharaman in her maiden budget speech said that the government should move beyond "women-centric politics to women-led initiatives."
While talking about the government's achievements to support women entrepreneurship through "various schemes such as MUDRA, Stand UP India and the Self Help Group (SHG) movement", Sitharaman proposed the expansion of "Women SHG interest subvention programme to all districts".
She added, "Furthermore, for every verified women SHG member having a Jan Dhan Bank Account, an overdraft of 5,000 shall be allowed. One woman in every SHG will also be made eligible for a loan up to 1 lakh under the MUDRA Scheme."
A self-help group is a financial intermediary committee, usually consisting of 10-20 local women. "(The government) will set up a committee to evaluate and suggest ways to encourage and facilitate women participation in country’s development,” Sitharaman said.
“This government believes that greater women participation is needed. Gramin arthvyvastha (rural economy) encourages role of women. The government believes social-economic transformation is taking place because of women participation in last one decade,” she said while underlining the record turnout of women voters and the presence of 78 women MPs in the Parliament.
"Naari tu narayani is the country’s tradition. There is no chance for welfare of the world unless the condition of women is improved,” she said.
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