Ministry of Rural Development(MoRD) has decided to focus on select 3-5 lakh women Self Help Groups(SHGs) with a view to convert their nano enterprises into micro enterprises.
This Initiative is taken up as part of Aajeevika-National Rural Livelihood Mission(NRLM).
The NRLM mission aims to organize the rural poor women into SHGs and continuously nurture and support them to take economic activities till they attain appreciable increase in income over a period of time.This will help them to improve their quality of life and come out of poverty.
Since 2011-12,SHGs have been entitled to get up to Rs 10 lakh as loan without collateral over a period of six to eight years.
Further,the government is also planning to bring more women SHGs into micro and small enterprises through,bank loans, registration on government e-market portals and similar e-commerce portals such as Amazon.
The Union Budget 2018-19 has also substantially increased funding to NRLM by 60% and offers Rs 1 lakh MUDRA loan to one woman in each of the SHGs with a view to make them more self-reliant and increase their incomes.