Women drive economic change: Parida

Women were emerging as drivers of Odisha’s economic and social transformation and would lead the State’s development journey in the coming years, said Deputy Chief Minister Pravati Parida on Tuesday. After releasing Rs 99.26 crore towards interest subvention to 1.79 lakh Self-Help Groups (SHGs), she said that the BJP government was taking steps to enhance the financial and institutional capacity of SHGs and their federations.

These interventions were aimed at creating new livelihood opportunities for women and strengthening women-led enterprises, thereby enabling more women to become ‘lakhpati didis’, she added. “Women are not merely beneficiaries of development schemes. They are emerging as drivers of Odisha’s economic and social transformation, and would lead the state’s development journey in the coming years,” the Deputy Chief Minister said.

A budgetary provision of Rs 575 crore has been made for interest subvention to SHGs during the 2026-27 financial year.

In June, interest subvention of Rs 147.77 crore was released to 2.88 lakh SHGs. With this release, a total of Rs 247.03 crore has been released towards interest subvention in the current financial year so far, officials said. For 2026-27, a target of Rs 20,000 crore in bank credit linkage has been set for the SHGs.

The combined support of bank credit, interest subvention and community funds was aimed at providing SHG members with adequate financial resources to strengthen their livelihoods and enterprises, they said.

On this occasion, the department has signed an MoU with Collective for Integrated Livelihood Initiatives to promote and expand the ‘Lakhpati Didi’ initiative.

Another MoU was inked with the Odisha Renewable Energy Development Agency to promote green entrepreneurship among women SHGs and encourage the adoption of renewable energy.

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