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PM Modi Transfers Rs 1000 Crore to Boost Grassroot Business Units Run by Women

PM Narendra Modi has announced the transfer of Rs 1000 crore to help women self-help groups, benefitting about 16 lakh people. The fund is part of the Deendayal Antyodaya Yojana, which aims to empower women by providing them with skills and incentives. It will also help these women launch 202 new SNMUs. The Prime Minister said that the new funding would make it possible for more women to start their own businesses, and this is the first step towards achieving that goal.

The money will also be used to establish more SHGs, which is a crucial part of the National Rural Livelihood Mission. These units are responsible for bringing new ideas to the table, and they have access to new markets and credit. The prime minister said the funds would help the women entrepreneurs who are unable to access capital to expand their businesses. The SHGs will receive the money through a revolving fund of Rs 10 lakh, and the Community Investment Fund of Rs 1.10 lakh will be given to each of the 80,000 SHGs.

The prime minister will also visit Prayagraj on Tuesday to give incentives to Business Correspondent-Sakhis. The BC-Sakhis will be provided with financial services at the doorstep of the poor. They will receive Rs 4,000 each in a six-month stipend, and will earn a commission for every transaction that they make. The transfer of money will help thousands of women start their own businesses.

The programme was attended by more than 2 lakh women in Uttar Pradesh, including the women of B.C-Sakhis. More than sixteen lakh SHGs will benefit from the new funding and the Prime Minister plans to increase that number. The B.C.-Sakhis will also receive a stipend of Rs 4,000 a month. Moreover, he will also encourage Business Correspondent Sakhis by transferring Rs 4,000 as a first-month stipend to the accounts of twenty of them. And under the Mukhya Mantri Kanya Sumangala Scheme, PM Modi will provide the funds to more than one lakh beneficiaries.

In addition to these grants, the Prime Minister will also make a visit to Prayagraj on Tuesday to promote the SHGs and SHG members. As a part of his vision to empower women, the Prime Minister will transfer Rs 1000 crore to SHGs and will be pleased with the efforts of the state government and the Uttar Pradesh Government to strengthen SHGs.

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