Budget 2019: Proposal to expand women SHG interest subvention to all districts

Union Finance Minister Nirmala Sitharaman, in her maiden budget on Friday, July 5, 2019, stressed on the importance of empowering women.

“Naari tu narayani is country’s tradition. There is no chance for welfare of the world unless the condition of women is improved,” she said.

“This government believes that greater women participation is needed. Gramin arthvyvastha (rural economy) encourages role of women. The government believes social-economic transformation is taking place because of women participation in last one decade,” she said. She cited the record turnout of women voters in the recent elections. “The Parliament has a record number of 78 women MPs,” she added.

“Will set up a committee to evaluate and suggest ways to encourage and facilitate women participation in country’s development,” Ms. Sitharaman said.

“We want to going beyond just women-centric politics to women-led initiatives,” she said,

Ms. Sitharaman proposed to expand the women self help groups (SHG) interest subvention to all districts in India. For every verified woman SHG member having a Jan Dhan account, an overdraft of ₹5,000 shall be announced, she said. One woman in every SHG will be made eligible for a loan of upto ₹1 lakh under the Mudra scheme, she said.