In January 2016, the Startup India initiative introduced a series of programmes aimed at supporting entrepreneurs and building a strong start-up ecosystem. These programs are managed by a team that reports to the Department for Industrial Policy and Promotion (DPIIT).
In 2018, NITI Aayog launched the Women Entrepreneurship Platform (WEP), a unified access portal to create an ecosystem to bring together women from different parts of India and nurture their entrepreneurial aspirations. WEP plays a key role in providing assistance to users with workshops, campaigns, and ways to learn and grow.
The central government has introduced many schemes for women entrepreneurs. Some of them.
Bharatiya Mahila Bank: This is a commercial loan scheme for business women who want to start a small and medium enterprise (SME) in real estate, a new business, and in the retail sector. Women entrepreneurs are given loans as high as Rs 20 crore and a 0.25 per cent discount on the interest rate of 10.15 per cent or more.
Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) provides collateral-free loans to micro and small enterprises for loans up to Rs. Women-led manufacturing enterprises will get credit up to Rs 20 crore.
Dena Shakti Scheme: It provides financial assistance to women entrepreneurs, where they can get a loan of up to Rs 20 lakh for horticulture, retail exchange, education and housing. Additional micro-credit up to Rs 50,000 will also be available under micro-credit schemes. There is also a 0.25% discount for women entrepreneurs who have a majority stake in the company.
Udyogini Scheme: Launched under the Women Development Corporation, the scheme encourages poor women entrepreneurs to get financial assistance to start a business. Women in the age group of 18-45 years with an annual family income of Rs 45,000 or less are eligible for a loan of up to Rs 1 lakh.
Mahila Udyam Nidhi Scheme: Provides assistance to women entrepreneurs for furthering and sustaining their business through Small Industrial Development Bank of India (SIDBI). The money provided under this scheme can be used in the service, construction and manufacturing sectors. You will also get a credit of up to Rs 10,00,000 for starting a small business.
Sthree Shakti Scheme: An initiative of State Bank of India for women entrepreneurs. Helps professionals, self-employed women entrepreneurs who manage their own business and business enterprises. An enterprise with a majority stake and women owning more than 50% will get a credit of up to Rs 20 lakh. For loans above Rs 2 lakh, the bank is offering a 0.50 per cent discount on the interest rate. No security is required for loans up to Rs 5 lakh.