Nirmala Sitharaman urges women to join Central schemes and be self-reliant

December 1, 2024
Posted by: OptimizeIAS Team
Category: DPN Topics

Nirmala Sitharaman urges women to join Central schemes and be self-reliant

Sub: Schemes

Sec : Economy

Context:

Union Finance Minister Nirmala Sitharaman distributed ₹1,121 crore in loans to 50,294 beneficiaries during a Credit Outreach Programme in Madhubani, Bihar.
Loans were sanctioned under schemes such as PM MUDRA, PMEGP, Kisan Credit Card, Stand-Up India, PM SVANidhi, and PM Vishwakarma, targeting sectors like retail, MSMEs, SHGs, and agriculture.

Details of these schemes:

PM MUDRA	The Pradhan Mantri MUDRA Yojana (PMMY provides financial support to non-corporate, non-farm small and micro-enterprises. It promotes entrepreneurship and financial inclusion by offering collateral-free loans through the Micro Units Development and Refinance Agency Ltd. (MUDRA). The scheme categorizes loans into three types: Shishu (up to ₹50,000), Kishore (₹50,000 to ₹5 Lakh), and Tarun (₹5 Lakh to ₹10 Lakh).
PMEGP	The Prime Minister’s Employment Generation Programme (PMEGP) is a credit-linked subsidy scheme launched in 2008 by the Ministry of Micro, Small, and Medium Enterprises (MSME). PMEGP aims to create employment opportunities in rural and urban areas by establishing micro-enterprises in the non-farm sector.
Kisan Credit Card Scheme	Launched in by the Government of India in collaboration with Reserve Bank of India (RBI) and National Bank for Agriculture and Rural Development (NABARD). Aims to provide short-term credit to farmers for agricultural and allied activities in a flexible and hassle-free manner.
Stand-Up India	Stand-Up India Scheme aims to promote entrepreneurship among Scheduled Castes (SC), Scheduled Tribes (ST), and Women by providing financial support for setting up greenfield enterprises. The scheme is part of the government’s broader initiative to promote financial inclusion, encourage self-employment, and empower marginalized communities.
PM SVANidhi	The PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme was launched on June 1, 2020, by the Government of India to provide financial support to street vendors affected by the COVID-19 pandemic. The scheme is aimed at promoting self-reliance among street vendors by providing them easy access to working capital for resuming their businesses.
PM Vishwakarma	The PM Vishwakarma Scheme was launched in 2023 to empower and support traditional artisans and craftsmen across India. The scheme aims to recognize, promote, and enhance the skills of people involved in traditional trades, ensuring their economic growth and social empowerment.

Empowering Women:

The finance minister emphasized women’s crucial role in achieving India’s goal of becoming a developed nation by 2047.
She also highlighted the importance of Self-Help Groups (SHGs) in increasing household incomes. The goal is to create “Lakhpati Didis” in every village, defined as SHG members with an annual household income exceeding ₹1 lakh.