Highlighting the achievements of the Ministry, Manjhi said, “We are encouraging women entrepreneurs to expand their businesses and also those who have not yet started their own businesses to start one.”
The guarantee coverage under the Credit Guarantee Trust Fund for Micro and Small Enterprises (CGTMSE) scheme for women has been increased from 85% to 90%, which is expected to benefit 4.5 lakh women-owned micro and small enterprises.
CGTMSE covers unsecured credit facility (term loan and/or working capital) extended by eligible lending institutions to micro and small enterprises up to Rs. 5 crore per borrowing unit.
The Ministry also launched the Yashasvini campaign for formalisation, capacity building and mentoring of women-owned businesses, focusing on incorporating these businesses on various digital e-commerce platforms.
With the help of Prime Minister Employment Generation Programme (PMEGP), one of the flagship employment generation schemes of the ministry, 26,426 new micro enterprises have been established with loan disbursements of Rs 3,148 crore and are expected to generate employment for 2,11,000 people. To ensure that no part of the country is deprived of development, the ministry has laid the foundation stone of a modern technology centre at Bokaro, Jharkhand. The centre is likely to provide technological support, skill development and business advisory services to 8,000 SMEs. In addition, the ministry has set up the Centre for Acceleration of Rural Enterprises through Technology (CREATE) at Leh to support the Pashmina wool processing sector and extraction of essential oils from local products.
The government has also taken steps with the launch of Zero Defect Zero Effect (ZED) 2.0 to support businesses in moving towards higher levels of ZED certification. Under ZED, SMEs are encouraged to adopt practices that ensure the manufacturing of quality products.
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