State Women Entrepreneurship Policy 2023-28

• 08 Jun 2023

Why in News?

According to the information given by the Chhattisgarh Public Relations Department on 6 June 2023, the state government has implemented the State Women Entrepreneurship Policy, 2023-28 to give a new identity to the efficiency of women and to connect them with the enterprise. Under this policy, a provision has been made to provide financial assistance (loans) to women to set up industries.

Key Points:

• This policy will increase the female workforce as well as increase their participation in industry & trade through which the number of startups started by women will also increase rapidly.
• Under the State Women Entrepreneurship Policy 2023-28, provision has been made for loans up to Rs 50 lakh for manufacturing enterprise projects for women entrepreneurs, loans up to Rs 25 lakh for service enterprise projects and loans up to Rs 10 lakh for business enterprise projects.
• Under the policy, economic investment incentives will be provided to the new, expansion, micro, small and medium manufacturing and service enterprises established by women entrepreneurs in the state.
• Fixed capital investment grants up to 30-55 percent of the fixed capital investment made in the enterprise, term loans received for enterprises and interest subsidy of 45 to 70 percent on working capital (equivalent to a maximum of three months requirement) provided in the project report and a maximum amount of Rs 15 to 60 lakh will be given.
• Margin money grants up to 50 per cent for setting up of new enterprises, up to a maximum of Rs 75 lakh, net state goods and services tax (net SGST) reimbursement for 6 to 16 years from the date of commencement of commercial production, electricity duty, stamp duty, transport grant, mandi fee will be exempted.
• Women Self-Help Groups will be given an additional grant of 5% in grants as an additional economic investment incentive and an additional time period of 1 year in case of exemption.
• The startup package announced under the Industrial Policy 2019-24 for start-up enterprises set up by women has a provision of a 5 percent additional grant and a one-year additional exemption in cases of exemption.