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  • Swati Shah

Empowering  Sheconomy: Investment schemes for Women in India

                                                                                                                                                     Investment schemes tailored for girl child and women play a crucial role in fostering financial inclusion, empowering and gender equality. These schemes recognize the unique challenges faced by women and aim to provide them with the means to secure their financial future and pursue their aspirations.

 One of the pioneering schemes targeted towards girl child is :

Sukanya Samriddhi Yojna(SSY).

SSY was launched by Government of India under Beti Bachao,Beti Padhao . It is a small savings scheme intended to facilitate long term savings for the girl child below the age of 10 years. Contribution to the account can be made until the girl reaches the age of 15 years and the account matures after 21 years. SSY offers attractive interest rate and tax benefits making it a popular choice amongst parents for securing their daughters’ future.

Beti Bachao, Beti Padhao Scheme: while not a direct investment scheme, BBBP is a Govt. initiative aimed at promoting the education and welfare of the girl child. Through awareness campaigns, financial incentives and support programs, BBBP seeks to address issues like gender based discrimination, female infanticide and lack of access to education. By investing in the education and development of girls, the scheme indirectly contributes to their economic empowerment and financial independence.

Mahila Samriddhi Yojna: This scheme is specifically designed to encourage women’s participation in economic activities and promote their financial inclusion. Under this scheme, women can open Savings Account with participating banks and enjoy benefits such as higher interest rates, lower minimum balance requirement and access to financial literacy programs. MSY aims to empower women by providing them with  safe and convenient avenues for savings and investment. Under MSY, loans are given to sanitation workers and scavengers and their dependents. The interest rate is very low and loans are given through State Channelizing Agencies(SCAs), Regional Rural Banks(RRBs) and nationalized banks.

Women entrepreneurs Schemes: There are various schemes like PRADHAN MANTRI MUDRA YOJNA, UNION NARI SHAKTI STP SCHEME, and MAHILA COIR YOJNA. All the schemes provide financial support to aspiring entrepreneurs looking to start their own business. Some also provide access to collateral free loans to start or expand their business. Apart from financial assistance, entrepreneurs can access training programs, marketing support and other resources to start their business. By fostering women’s entrepreneurship, we not only encourage women to be financially independent but also contribute to gender equality and socio-economic development.

In conclusion, investment schemes for girl children and women in India play a crucial role in financial inclusion, empowerment and gender equality. By providing woman with access to savings and investment opportunities as well as support for education and entrepreneurship, these schemes help them to secure their financial futures, pursue their aspirations and contribute to the overall development of Society. It generates confidence in them for creating purposeful financial structure and leading successful businesses.                               

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