Interest-free loans to the tune of ₹20,000 crore to women’s SHGs every year: Telangana Deputy CM Bhatti

Telangana Deputy Chief Minister Mallu Bhatti Vikramarka has said Telangana will soon emerge as a role model for women’s economic empowerment for the country.

Govt will pay interest on loans to SHGs

Every year, interest-free loans to the tune of ₹20,000 crore would be extended to women’s self-help groups (SHGs) and in the next five years, ₹1 lakh crore loans would be provided to SHGs, he said, adding that the government itself would pay the interest for that amount.

He was speaking after launching a slew of initiatives to economically empower women in Khammam district on Sunday. He inaugurated a host of new facilities, including Indira Mahila Shakti canteen, Ladies’ Lounge and a bus shelter at the Integrated District Offices Complex in Khammam town.

Mr. Vikramarka said the previous Bharat Rashtra Samithi (BRS) government had stopped the sanction of interest-free loans to women SHGs. Soon after coming to power, the Congress government revived the scheme to disburse interest-free loans.

Listing out the Congress government’s initiatives to promote entrepreneurship among women, he said Rani, an enterprising woman of Jujjularaopeta village, is now earning more than ₹2 lakh a month by running a fish and prawn farm, poultry, dairy, sheep rearing units and growing vegetables.

Following proposals from women, the government issued instructions to the bankers to extend another ₹5,000 crore loans to women, the Deputy Chief Minister said.

He added that the free bus travel for women enabled the Telangana State Road Transport Corporation to earn profits. More buses would be purchased through women SHGs with the loans given by the government and those buses would be leased to the corporation to earn rental amounts.

Published - October 28, 2024 11:33 am IST