GoI to create 75 lakh Self Help Group by 2022

On March 8, 2020, Minister of Rural Development Narendra Singh Tomar announced that more than 17 lakh Self Help Groups (SHGs) are to be developed by 2022. Currently, there are more than 60 lakh self help groups in the country mobilizing 6 crore women.

Highlights

The Self-Help Groups will be provided funds for their livelihood missions. They will be linked with banks for easy credit flow. The platforms such as E-Marketplace will also be linked with the SHGs to provide better prices for their products.

Self Help Groups

The concept of Self-Help Groups was introduced in 1992 under the guidelines of RBI and NABARD. Today, more than 90% of SHGs in the country consist of women.

Why SHGs?

The SHGs help to promote Gender Equity, Social Integrity, Financial Inclusion and help raise voice of marginalized section. It also helps to improve efficiency of Government Schemes.

The “Kudumbashree” project in Kerala is the largest and most successful SHG project in the country that was launched in Kerala. It is a SHG of the State Government. It was launched in 1998.

Month: Current Affairs - March, 2020