Navtejaswini scheme amended to strengthen women entrepreneurship

Vaibhav Parwat

Chhatrapati Sambhajinagar: The Women and Child Development Department has amended the Navtejaswini scheme to provide greater financial assistance to women entrepreneurs. This initiative aims to empower women and make their entrepreneurial dreams a reality.

Key changes to the scheme

Increased financial support: The scheme now offers 25 percent financial aid from International Fund for Agricultural Development and at least 10 percent from public participation for projects channeled through the women's development corporation. The department of women and child development can utilize 3 percent of funds from the district planning and development committee to bridge any funding gaps for women-centric projects.

Focus on permanent assets

Financial assistance will prioritize permanent resources like construction of shared facilities and machinery to create a sustainable value chain.

Expected outcomes

These changes are expected to significantly increase the number of women entrepreneurs by providing them with critical financial backing. This initiative builds upon the success of the state government's "Special Policy for Women Entrepreneurs," launched in 2017.

Impact of the special policy

The special policy for women entrepreneurs has fostered a supportive environment for women-led businesses in Chhatrapati Sambhajinagar. Over the past six years, it has resulted in:

Establishment of 65 new industries by women:

Creation of 651 jobs

Total investment of Rs 144 crore in these industries

Increased confidence among women entrepreneurs

Policy Incentives:

-The Special policy offers attractive incentives for women entrepreneurs, including:

-Fixed investment subsidy: 15-25 percent based on location

-Special capital grants: Rs 20-50 lakh

-Market development assistance: Up to Rs 50,000 for exhibitions

-Interest rate reduction: Up to 5%

-Electricity subsidy: Rs 1 per unit for five years

Incentives driving success

Manager of the district industry center, Vikram Patil, reported a surge in women's participation in industries this year, indicating the continued effectiveness of the policy. The success witnessed in Chhatrapati Sambhajinagar district serves as a beacon for replicating similar programs across India, fostering a more inclusive and empowered entrepreneurial ecosystem for women.