Twitter Facebook
Print this Page Mail this Page

Interest Subsidy Project

An unprecedented step to facilitate economic empowerment among women has been taken up with the launch of Mission Mangalam initiative by the Government of Gujarat. Government has set up a company namely Gujarat Livelihood Promotion Company Ltd. (GLPC) to implement the Mission Mangalam Programme as well as the National Rural Livelihood Mission, consequent to operationalization of GLPC, illiterate and poor women have also become the active partners in economic development as beneficiaries of Mission Mangalam. To further this process of economic empowerment, a provision of Rs. 45 Crore has been made towards interest assistance on the Bank Loans.

The Scheme is to be known as "The Interest Subsidy Scheme on Credit extended to Women Self Help Groups / SakhiMandals". The purpose of the scheme is to provide interest relief to the Women Self Help Groups / SakhiMandals who are availing Bank credit facilities for various purposes. The Interest subsidy would thus reduce the financial burden on Self Help Groups.

It would also help them towards economic empowerment through financial linkages for carrying on economic activities and ensure a positive repayment culture.Gujarat Livelihood Promotion Company Ltd. GLPC shall be responsible for implementation of the scheme. GLPC shall implement the scheme through its Offices at District/Taluka level viz DRDA/DLM at District Level and TDO/TLM at Taluka level.It is expected that more than 5,00,000 women from 50,000 Self Help Groups will be benefitted by the provisions of this scheme in the Financial Year 2012-13.