Odisha Govt Doubles Interest-Free Loan Amount For SHGs Under Mission Shakti

Bhubaneswar: It’s raining sops ahead of the twin elections in Odisha with the latest being interest-free loan up to Rs 10 lakh for SHGs under the Mission Shakti programme.

Chief Minister Naveen Patnaik made this announcement while inaugurating the Mission Shakti Bazaar in Bhubaneswar on Tuesday. Earlier, they could avail interest-free loan up to Rs 5 lakh.

“A total of 5000 Mission Shakti Bazaars will be set up in the state in the next five years and these will facilitate marketing of the products manufactured by the SHGs in Odisha. The SHGs have received a loan amount of Rs 15,000 crore this financial year and will be given Rs 75,000 crore loan in the next five years,” the CM said.

He further informed that 145 crore was deposited as interest subvention directly in bank accounts of more than 2.75 lakh SHGs and Rs 925 crore in the last 5 years.

Expressing happiness over their exposure trips to Dubai and Singapore, Naveen said that Mission Shakti women are partners in a transformed Odisha. “They are partners in various programme of the government and were provided business assistance worth of Rs 8000 crore through a special livelihood initiative,” he said while pointing at the shift of SHGs to small and medium enterprises.

Since the SHGs are eager to take up ventures and are joining hands with corporates, the government has sanctioned Rs 730 crore for purchasing uniforms and blazers for 70 lakh self help group members and 1.5 lakh SHG leaders, he added.

While praising Mission Shakti community support staff and federation leaders, the CM said that they will get some good news soon.

Commissioner-Cum-Secretary, Mission Shakti, Sujata Raut Karthikeyan said that the interest-free loan system has strengthened the hands of mothers and empowered them financially.