Women, in the traditional Indian setup, have always been at the mercy of the breadwinner in the house. This lack of empowerment has oppressed womanhood for centuries in India. As the tides change in the 21st century, governments worldwide are growing increasingly cognizant of the plight of women, and are therefore introducing schemes that contribute to the welfare and rightful empowerment of women.
The Indian government is one such government and it aims to establish women empowerment through various schemes – one, in particular, being the Stree Shakti Package Scheme.
About the Stree Shakti Package Scheme
The Stree Shakti Package Scheme is run by the Government of India and is available for the general public of India. This scheme allows women to start their own business. For way too long, women have wanted to step into entrepreneurship, but a regressive mindset and lack of opportunities have stopped them from empowering themselves.
This scheme is one such progressive step towards the betterment of women who wish to self-empower through entrepreneurship.
Objective of the Stree Shakti Package Scheme
The main objective of the scheme is to offer opportunities to women so they get to break the shackles of oppression and to finally promote entrepreneurship among Indian women as well.
In order to meet the objective, the government of India will give out loans through the State Bank of India which has set certain criteria around this loan. On the basis of these criteria, women can apply for a loan that will support their businesses.
Salient features of the scheme
- One of the greatest features of the loan is the fact that there is a provision to reduce the margin on different categories of loans by up to 5%.
- If the number of loans taken by women is more than two lakhs, then the provision of reducing the interest by 5% has been prescribed by Women Entrepreneurs Scheme.
- If women entrepreneurs intend to start their own enterprise, they will not require any security on loans up to ₹5 lakhs.
Eligibility criteria for the Stree Shakti Package
- Occupation – Women need to be involved in retail, manufacturing, service activities to be eligible for the loan. Self-employed women like architects, Chartered Accountants (CAs), doctors etc are also considered eligible for the loan.
- Business ownership – the loan provided by the government through the SBI is solely for businesses which are led and owned by women or have at least more 50% stakeholders to be women
- EDP – it is necessary for the applicant to be a part of at least to be pursuing the Entrepreneurship Development Programmes (EDP) which are organised by State agencies so as to be considered eligible for the loan.
If you are an aspiring entrepreneur reading this who wishes to apply for the loan and grow your business, click here.
Women have all the avenues and resources now to own businesses and earn their rightful place in society – not as a secondary to men, but as equals. The era of women to rise up and outshine is upon us.