Must-Know Schemes for Women Entrepreneurs in India

The increasing presence of women as entrepreneurs is contributing significantly to India’s economic growth. Women-owned enterprises are creating employment opportunities, driving innovation, and inspiring the next generation of business leaders. To support and empower women in business, various government schemes provide financial aid, skill development, and business-friendly policies.

This article highlights key government schemes designed specifically to promote women entrepreneurship in India.

1. Skill Upgradation and Mahila Coir Yojana

This scheme falls under the Coir Vikas Yojana, which was previously known as the Coir Plan (General) Scheme. It focuses on developing domestic and export markets, skill enhancement, and creating employment opportunities for women.

Key Features:

• Provides subsidised spinning equipment to women after skill development training.
• Stipend of ₹1,000 per month per trainee.
• Trainer honorarium capped at ₹6,000 per month.
• Financial assistance of ₹400 per trainee per month to cover operational training costs.
• Subsidy provided – Coir Board provides 75% of the cost of motorised Ratt/motorised traditional Ratt, subject to a ceiling of ₹7,500 and ₹3,200, respectively.

2. Mahila Samriddhi Yojana

The National Scheduled Castes Finance and Development Corporation (NSFDC) provides this scheme for small business units requiring financial support.

Key Features:

• Maximum loan amount: ₹1.25 lakhs.
• Interest rate: 2% from NSFDC to SCAs/CAs; 6% to beneficiaries.
• Repayment period: 3 years with a moratorium of 3 months.

3. Self-Employment Lending Schemes – Credit Line by NMDFC

The National Minorities Development & Finance Corporation (NMDFC) offers two credit lines based on family income:

Eligibility:

• Credit Line-1: For families earning up to ₹3 lakh per annum.
• Credit Line-2: For families earning up to ₹8 lakh per annum.

Key Schemes under NMDFC:

i. Term Loan Scheme

• Loan up to ₹20 lakh under Credit Line-1 and ₹ 30 lakh under Credit Line-2.
• Interest rates: 6% p.a. (Credit Line-1), 8% p.a. (Credit Line-2).
• Women entrepreneurs get a 2% concession under Credit Line-2.

ii. Education Loan Scheme

• Loan up to ₹20 lakh for domestic courses and ₹ 30 lakh for international courses.
• Interest rates: 3% p.a. (Credit Line-1), 8% p.a. (Credit Line-2).
• Women beneficiaries get a 3% concession under Credit Line-2.

iii. Micro-Finance Scheme

• Designed for Self Help Groups (SHGs), especially for women entrepreneurs in rural and urban slums.
• Loan up to ₹1 lakh (Credit Line-1) and ₹1.5 lakh (Credit Line-2).
• Interest rates: 7% p.a. (Credit Line-1), 10% p.a. (Credit Line-2).
• Women beneficiaries get a 2% concession under Credit Line-2.

iv. Virasat Scheme

• Offers financial support for working capital and equipment purchases.
• Loan up to ₹10 lakh.
• Interest rates: 5% p.a. (Credit Line-1), 6% p.a. (Credit Line-2).
• Women artisans get a 1% concession.

4. Credit Guarantee Scheme for Micro and Small Enterprises

This scheme provides collateral-free credit to new and existing Micro and Small Enterprises (MSEs) engaged in manufacturing or service activities.

Loan Benefits:

• Up to ₹5 lakh: Interest rate of 1%.
• ₹5 lakh to ₹50 lakh: Interest rate of 1.35%.
• ₹50 lakh to ₹200 lakh: Interest rate of 1.80%.

This scheme covers businesses owned by women, micro-enterprises, and those based in the Northeast region.

Conclusion

Women entrepreneurs in India have access to various government schemes aimed at skill development, financial assistance, and business support. These initiatives are crucial for promoting sustainable entrepreneurship and empowering women to drive economic growth. By leveraging these schemes, women-led enterprises can overcome financial barriers and contribute significantly to India’s entrepreneurial ecosystem.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

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