Assam Budget 2024 introduces Mukhya Mantri Mahila Udyamita Abhiyaan to empower women entrepreneurs

Finance Minister Ajanta Neog on February 8 announced the ambitious "Mukhya Mantri Mahila Udyamita Abhiyaan" during her budget speech in the Assam Assembly. The scheme, tailored to uplift women across the state, seeks to foster a culture of entrepreneurship among them, thus amplifying their role in the economic growth of Assam.

The Mukhya Mantri Mahila Udyamita Abhiyaan stands as a testament to the government's unwavering commitment to empowering women economically and socially. Under this pioneering initiative, a comprehensive support system will be extended to women entrepreneurs, particularly those belonging to Self-Help Groups (SHGs) in rural areas.

Finance Minister Ajanta Neog outlined the key components of the scheme stating its dual objectives of augmenting the income of women entrepreneurs and nurturing them into successful business owners. Notably, the government will extend an entrepreneurship fund of Rs. 10,000 to each of the 39,67,743 women members of SHGs in rural areas, subject to certain conditions. This initial boost aims to catalyze their entrepreneurial journey.

Furthermore, the scheme entails facilitating bank loans of a minimum of Rs. 25,000 to each beneficiary, once they avail themselves of the entrepreneurship fund. Additionally, prudent utilization and timely repayment of the loan amount will render them eligible for a capital subsidy of Rs. 12,500, further fortifying their financial position.

The holistic approach of the Mukhya Mantri Mahila Udyamita Abhiyaan underscores the government's commitment to providing a conducive ecosystem for women entrepreneurs to thrive. By offering a blend of financial assistance, mentorship, and market access, the scheme aspires to unleash the untapped potential of women across Assam.

Moreover, Finance Minister Ajanta Neog announced the extension of the scheme to urban areas, thereby encompassing approximately 2.5 lakh SHG members.

With adequate resources allocated for the successful implementation of the Mukhya Mantri Mahila Udyamita Abhiyaan, the government aims to chart a path towards gender parity and economic empowerment. By harnessing the entrepreneurial zeal of women, Assam is poised to witness a paradigm shift in its socio-economic landscape, marking a significant stride towards a more inclusive and prosperous future.