Finance Minister Nirmala Sitharaman Affirms Government’s Commitment to Empower Women Entrepreneurs

Share via:

Union Finance and Corporate Affairs Minister Nirmala Sitharaman reiterated the government’s commitment to supporting women entrepreneurs, emphasizing their precedence under the flagship Pradhan Mantri Mudra Yojana scheme. The scheme, designed to provide financial assistance to beneficiaries, places a special focus on empowering women in business.

During the distribution of sanction letters to beneficiaries under the PM SVANidhi Se Samriddhi programme, a component of the PMSVANidhi scheme offering loans to street vendors, Sitharaman urged municipal officials to identify uncovered street vendors and help them avail the benefits of this initiative.

The SVANidhi Se Samriddhi program is an additional facet of the PMSVANidhi scheme, facilitating access to eight Central government schemes for eligible PM SVANidhi beneficiaries and their family members, aiming at their holistic development and socio-economic upliftment.

Sitharaman highlighted the success of the Jan Dhan-Aadhaar-Mobile Trinity, stating that through this approach, beneficiaries could receive financial aid directly, eliminating intermediaries. Referring to a statement by the late Rajiv Gandhi, she emphasized the historical challenge of only a fraction of financial assistance reaching the intended beneficiaries, with a significant portion lost to middlemen.

The Finance Minister emphasized Prime Minister Narendra Modi’s vision in leveraging technology to ensure direct financial assistance to beneficiaries, preventing leakage of funds to intermediaries. She underscored the mass movement to open bank accounts, a crucial step in achieving comprehensive coverage of the scheme across the country.

Discussing the Pradhan Mantri Mudra Yojana scheme, Sitharaman outlined its objective of providing loans through banks, with a specific focus on empowering women entrepreneurs. She highlighted that the scheme prioritizes women running small businesses or aspiring to start ventures, enabling them to approach banks for loans.

“One important aspect of the scheme is that women who are running small businesses or interested in starting a business can approach the bank and start their venture by receiving loans from PM Mudra Yojana scheme. Through this scheme, if 100 people were beneficiaries, 60 of them would comprise women. Women were accorded top priority under the PM Mudra scheme,” she affirmed.

 

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Popular

More Like this

Finance Minister Nirmala Sitharaman Affirms Government’s Commitment to Empower Women Entrepreneurs

Union Finance and Corporate Affairs Minister Nirmala Sitharaman reiterated the government’s commitment to supporting women entrepreneurs, emphasizing their precedence under the flagship Pradhan Mantri Mudra Yojana scheme. The scheme, designed to provide financial assistance to beneficiaries, places a special focus on empowering women in business.

During the distribution of sanction letters to beneficiaries under the PM SVANidhi Se Samriddhi programme, a component of the PMSVANidhi scheme offering loans to street vendors, Sitharaman urged municipal officials to identify uncovered street vendors and help them avail the benefits of this initiative.

The SVANidhi Se Samriddhi program is an additional facet of the PMSVANidhi scheme, facilitating access to eight Central government schemes for eligible PM SVANidhi beneficiaries and their family members, aiming at their holistic development and socio-economic upliftment.

Sitharaman highlighted the success of the Jan Dhan-Aadhaar-Mobile Trinity, stating that through this approach, beneficiaries could receive financial aid directly, eliminating intermediaries. Referring to a statement by the late Rajiv Gandhi, she emphasized the historical challenge of only a fraction of financial assistance reaching the intended beneficiaries, with a significant portion lost to middlemen.

The Finance Minister emphasized Prime Minister Narendra Modi’s vision in leveraging technology to ensure direct financial assistance to beneficiaries, preventing leakage of funds to intermediaries. She underscored the mass movement to open bank accounts, a crucial step in achieving comprehensive coverage of the scheme across the country.

Discussing the Pradhan Mantri Mudra Yojana scheme, Sitharaman outlined its objective of providing loans through banks, with a specific focus on empowering women entrepreneurs. She highlighted that the scheme prioritizes women running small businesses or aspiring to start ventures, enabling them to approach banks for loans.

“One important aspect of the scheme is that women who are running small businesses or interested in starting a business can approach the bank and start their venture by receiving loans from PM Mudra Yojana scheme. Through this scheme, if 100 people were beneficiaries, 60 of them would comprise women. Women were accorded top priority under the PM Mudra scheme,” she affirmed.

 

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

More like this

Rustom Kerawalla’s VIBGYOR group of schools students shine bright...

New Delhi (India), May 23: The result season...

EmergeTech Multicity Roadshow 2024 – Mumbai Chapter: A Resounding...

EmergeTech 2024 Highlights: The event kicked off with a...

Sachin Bansal’s Navi Finserv Bags INR 150 Cr Via...

SUMMARY Among the investors are Dadachanji Group chairman Kairus...

Popular

Upcoming Events

Startup Information that matters. Get in your inbox Daily!