Uttar Pradesh (UP) government on 2 December 2014 launched the Women Entrepreneurship Scheme 2014-15 to empower women and ensure their participation in the process of industrialization.
Under the scheme, the state government is encouraging micro-level and individual traditional industries and handicraft units to form a special purpose vehicle (SPV).
The collection of 25 or more such units would qualify for benefits under a scheme that seeks to boost traditional Indian craft such as chikankari, terracotta, zari, zardozi and toys.
Highlights of the Women Entrepreneurship Scheme 2014-15
• The Central government will provide 70 percent of the 15 crore rupees under the scheme.
• The unemployed women are eligible for easy seed capital to start their own micro or small enterprise.
• The loan will be provided by nationalized banks, financial institutions or the State Financial Corporation for the purchase of plant and machinery.
• The beneficiaries are entitled to a loan of 50000 rupees per year at five percent interest subjected to a ceiling of 2.50 lakh rupees in five years.
• This scheme is applicable to both manufacturing and service sector units.
When: 2 December 2014