Business News | NULM Assam Empowers Self-help Groups with Rs 11.73 Crore Seed Capital, Benefiting 4,257 Individuals

Guwahati (Assam) [India], November 10 (ANI): The Ministry of Housing and Urban Affairs has taken a momentous step to uplift self-help groups (SHGs) in Assam engaged in food processing activities by seamlessly converging the Deendayal Antyodaya Yojana-National Urban Livelihoods Mission (DAY-NULM) with the PM Formalisation of Micro Food Processing Enterprises (PM FME) scheme of the Ministry of Food Processing Industries (MoFPI).

Under this strategic convergence, SHGs and SHG members with a minimum of one year experience in microfood processing activities in Assam are now eligible to apply for seed capital assistance at Rs 40,000 per SHG member, up to a maximum limit.

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The initiative reached a pinnacle during the just-held World Food India 2023 event when Prime Minister Narendra Modi disbursed seed capital to approximately one lakh SHG members across all States and Union Territories with a single click on November 3, 2023.

The enthusiasm of SHG members from selected cities, including Guwahati, Silchar, Dibrugarh, and Tezpur, was palpable as they actively participated in the event through a video conference facilitated by the National Informatics Centre (NIC).

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On the same day, an impressive amount of Rs 12.65 crore was allocated by the AIDC (Assam Industrial Development Corporation), the nodal agency for PMFME, benefiting 1,595 SHG enterprises (4,574 SHG members).

Of particular note is the swift action of NULM, Assam, which released Rs 11.73 crore to 1,551 SHG enterprises in Assam, covering 4,257 SHG members, on November 9, 2023. (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)