Chief Minister Patnaik announces Rs 10 lakh zero-interest loans for SHGs

Bhubaneswar: In a groundbreaking move ahead of the 2024 elections, Chief Minister Naveen Patnaik has unveiled an initiative aimed at uplifting women across Odisha.

Under the Mission Shakti program, an announcement was made to provide a significant financial boost to Self-Help Groups (SHGs), catapulting 70 lakh women into a realm of opportunity and economic empowerment.

Financial Empowerment:

Chief Minister Naveen Patnaik’s announcement of a Rs 10 lakh loan provision at zero percent interest rate for all SHGs under the Mission Shakti program is a game-changer. This initiative not only provides access to crucial capital but also ensures financial sustainability and independence for countless women across the state.

Market Access and Promotion:

The inauguration of the Mission Shakti Bazaar in Bhubaneswar signifies a pivotal step towards facilitating market access for products manufactured by SHGs in Odisha. This strategic move not only boosts local economies but also promotes entrepreneurship and grassroots innovation.

Government Support:

With a staggering Rs 145 crore distributed as interest subvention directly to SHGs, and a cumulative Rs 925 crore returned in the last five years, the state government’s unwavering support is evident.

Expansion Plans:

The ambitious plan to set up 5000 Mission Shakti Bazaars in the state over the next five years showcases a forward-looking approach towards empowering women at scale. Furthermore, the allocation of Rs 730 crore for uniforms and blazers reflects a holistic strategy to support the transition of SHG women into Small and Medium Enterprises (SMEs).

Women Empowerment:

Chief Minister Patnaik’s emphasis on the pivotal role of Mission Shakti mothers in shaping the future of Odisha underscores the transformative impact of this initiative. From SHGs to SMEs, these women epitomize resilience, entrepreneurship, and the spirit of New Odisha.

Government Commitment:

The substantial government support amounting to Rs 8,000 crore for Mission Shakti Maa demonstrates a steadfast commitment to women’s empowerment and socio-economic development.