Finance
Under the Mission Shakti program, the Odisha government has embarked on a transformative journey, graduating Self Help Groups (SHGs) to Small and Medium Enterprises (SMEs) (SMEs).
In this regard, Odisha Chief Minister Naveen Patnaik announced a number of initiatives to assist more than 70 lakh women through 6 lakh SHGs in entering into large businesses, according to Mission Shakti Commissioner-cum-Secretary Sujata R Karthikeyan, who spoke at the 2-day IAS Officers’ Conference that began here today.
The following are Mission Shakti initiatives for women SHG members to help them become SMEs:
1. There is no interest. Mission Shakti provides loans of up to Rs 5 lakh. This year, nearly 10,000 crores will be distributed to over 3 lakh groups. A total of Rs. 200 crore in interest subvention is being disbursed directly to SHG accounts. Over the next five years, Rs. 50,000 crore loan is targeted to be disbursed to SHGs and 1200 cr has been provisioned for interest subvention benefits to SHGs.
2. The government of Odisha has developed a unique model for outsourcing government procurements and providing services worth 5000 crore in five years. 15 Departments are actively involved in hospital diet management, electricity meter reading, pisciculture, urban works, nursery raising in forests, and other areas. The handover of all five T schools to federations for watch and ward and maintenance activities, with built-in supervision charges for SHGs, is a striking example of this initiative.
3. Training is an important part of establishing SMEs. High-quality trainings with credible partners will be provided for all blocks. Beauty sector enterprises, fashion design, Agri entrepreneurship, cafe management, and hospitality sector services will be prioritized.
4. Marketing – Purpose Shakti Bazaar, the exclusive retail chain for SHG products, will be established in 500 locations across the state, with a state-of-the-art boutique store opening soon in Bhubaneswar. Flipkart has identified 300 SHGs and PGs for onboarding.
5. During the Make in Odisha Conclave 2022, CM Patnaik announced a Rs. 1 crore revolving fund for all District Level Federations, a Rs. 50 lakh revolving fund for all Block Level Federations, an office building with a market complex for all GPLFs, and the establishment of Micro & Mini Industrial parks in all 30 districts to encourage female entrepreneurship.
According to a press release from the Mission Shakti Department, a few examples of successful women-led businesses at the district level were also presented during the two-day event.
Koraput district has established 310-acre mini industrial parks for women in 12 GPs of Borigumma. The district has pooled funds from various programs to house these units in one location. The fly ash brick unit alone generates 5 crore in revenue.
Milk Shakti has been established in Kendrapara district to procure and sell milk from Mission Shakti SHGs. They have also started a unique e-auto program with female e-auto owners and drivers.
The overall vision is to set up at least 50,000 SMEs in the next 3 years, the release stated adding, “This effort will further promote women led and women owned large enterprises and provide a strong platform for women to take on leadership roles at all levels.”
Source:OCN
