SHGs In Odisha To Get Interest-Free Loans Up To ₹10 Lakh Under Mission Shakti

Bhubaneswar: Ahead of 2024 elections, Odisha Chief Minister Naveen Patnaik has announced a significant initiative under the Mission Shakti program. At the inauguration of the Mission Shakti Bazaar in Bhubaneswar, the Chief Minister unveiled plans to provide interest-free loans of up to Rs 10 lakh to all Self-Help Groups (SHGs) in the state. This move aims to empower women entrepreneurs associated with Mission Shakti by facilitating access to capital for their businesses.

Moreover, CM Patnaik disclosed a substantial sum of Rs 145 Crore towards interest refunds, further demonstrating the government’s commitment to supporting SHGs. He also outlined ambitious plans to establish 5000 Mission Shakti Bazaars across the state over the next five years, providing a platform for marketing the products manufactured by SHGs in Odisha.

In addition to financial assistance, the government plans to allocate Rs 730 Crore to 70 lakh women SHG members and Rs 1.5 lakh to Mission Shakti leaders for the procurement of uniforms and blazers. This year alone, SHGs have received loans amounting to Rs 15,000 Crore, with plans to extend Rs 75,000 Crore in loans over the next five years.

In his address at the event, CM Patnaik emphasized the pivotal role of Mission Shakti women in the state’s development, highlighting their transition from SHGs to Small and Medium Enterprises (SMEs). He reaffirmed the government’s dedication to empowering women and fostering a transformed Odisha in collaboration with Mission Shakti participants.