Indian Economy News

Multiple Schemes Launched by Government to Provide Financial Support to Women Across India

The Government of India has introduced multiple initiatives to provide women with financial support and entrepreneurial opportunities, reinforcing their role in economic growth and innovation. Over 73,000 startups, nearly half of the 1,57,066 startups supported under the Startup India Initiative, have at least one woman director, reflecting the increasing participation of women in business leadership and technology-driven enterprises. 

Key schemes include Pradhan Mantri Kaushal Vikas Yojana (PMKVY) and Mahila Coir Yojana (MCY) for skill development, along with Stand-Up India, Startup India, and MUDRA Yojana, which facilitate bank loans and entrepreneurial support for women. Women entrepreneurs benefit from expedited patent examinations and reduced filing fees under the Indian Patent Act, leading to a 905% increase in patent filings by women in the past five years. Additionally, schemes such as the Credit Guarantee Scheme for Startups (CGSS), Prime Minister Employment Generation Programme (PMEGP), and Pradhan Mantri Street Vendors Atmanirbhar Nidhi (PM SVANidhi) provide credit guarantees and self-employment opportunities. Several nationalised banks also offer dedicated financial schemes, including Mahila Udyam Nidhi Yojana, Dena Shakti Scheme, Stree Shakti Package for Women Entrepreneurs, and Cent Kalyani Scheme, further empowering women-led businesses across India. This information was shared by the Minister of State for Women and Child Development, Ms. Savitri Thakur, in a written reply in the Lok Sabha. 

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.