- Post:CA Sundram Gupta
- May 11, 2020
“The question isn’t who is going to let me; it’s who is going to stop me?”— Ayn Rand
IWomen, be it any part of the world, have always been a victim of chauvinism and discrimination. They always had to fight to be taken seriously especially when it came to running your own venture. Shocked faces and suspicious eyes used to welcome their idea of being an entrepreneur and statements like - you are a woman, you belong within the walls of the house, let your man handle the money and what not were used to supress their dreams. Women have been changing and inspiring the world for hundreds of years but it took the world a very long time to acknowledge their contribution. The gender discrimination has always hindered their progress. Many female authors had to use a male pen name in order to get their content published. One of the famous and household example is J. K. Rowling. But, today we have multiple examples of women business tycoons who have been able to overpass those unsavoury eyes and turned the tables upside down.
India, even after 70 years of independence has not been able to bring in the concept of women entrepreneurship swimmingly to the people. The concept of women empowerment of today’s governance is- Equity = Equality which seems quite accurate too. Being a developing third world war country, wherenumber of women is not even half as men, India needs women to rise for their cause and be independent in financial aspects. Number of women entrepreneurs in India is 14% as per 6th Economic Senses and needs to a big leap for India’s GDP as well as for the cause of women empowerment. And, with the same motive in mind, government of India has launched multiple schemes to empower women entrepreneurs and support their cause. Some of them are:
Mudra Yojana Scheme for Women
The scheme was launched with a purpose to support small units run by women entrepreneurs. Loans between INR 50,000 to INR 50 lakhs can be availed to set up beauty parlour, tuition centre etc. No collateral or guarantor is required for loan below INR 10 lakhs. The scheme consists of 3 plans:
- Shishu- A loan with a maximum limit of INR 50,000 cane be availed for a new venture to be repaid in 5 years with an interest rate of INR 1%
- Kishore- Loan ranging between INR 50,000 up to INR 5 lakhs can be availed for well-established ventures and ROI varies with banks.
- Tarun- Loans from INR 5 lakhs ranging to INR 10 lakhs are granted for business expansion in these scheme and the terms and conditions vary as per the banks.
Helping women in food catering business, this scheme lends women a loan up to INR 50000. Amount can be used to cover the working capital needs. The loan has to be repaid in 36 EMIs.
Cent Kalyani Scheme
The scheme has been launched for both beginners and self-employed women for micro ventures like- day crèches, tailoring, garment making, food-processing etc. loans up to INR 1 crores can be availed along with a margin rate of 20%.
Orient MahilaVikasYojana Scheme
The scheme was launched by Oriental Bank of Commerce and women holding 51% or more than in the venture are eligible to apply for the loans. No collateral is required for the loans ranging between INR 10 lakhs up to INR 25 lakhs. Repayment period is 7 years along with an ROI up to 2%.
Likewise, there are many more schemes supporting the cause of women. But, the deeper question one needs to ask is- are women actually availing the benefits directly? India is a country of make shifters and many male entrepreneurs are taking nefarious advantages of these schemes while the women in whose name the venture is registered might not even be aware of anything going on there. Government has been launching the schemes to endorse women empowerment for a long time but were all the women able to take the righteous advantage of them? No, because having no or lack of awareness and education are the root causes of women lacking behind. India needs to work on the rudimentary factors as well to make Indian women great entrepreneurs!