India News | OD-PATNAIK-SHGs Interest-free Loans Up to Rs 5 Lakh for Mission Shakti SHGs in Odisha

Bhubaneswar, Nov 30 (PTI) Odisha Chief Minister Naveen Patnaik, in a bid to boost the state's 'Mission Shakti' scheme, has announced that his government would hike the upper limit for interest-free loan provided to self-help group members from Rs 3 lakh to Rs 5 lakh, starting April next year.

Describing the move as "revolutionary, Patnaik on Tuesday said women can now set up small and medium enterprises (SMEs) or even launch big businesses.

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The Mission Shakti movement in Odisha seeks to empower women self help groups (WSHGs) by encouraging the members to take up various socio-economic activities.

Noting that women have always been a driving force for transformation of Odisha, Patnaik said that this new decision will also promote local economy.

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Odisha has six lakh WSHGs, with 70 lakh women as members

An official release issued by Patnaik's office said that the state government provided over Rs 17,000 crore as loans to Mission Shakti SHGs in the last 5 years.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)