Income Generation Units for Minority Women in J&K

The Social Welfare Development, Government of Jammu and Kashmir, aids in implementing numerous Developmental Schemes in the State. The Department fosters a focus on the families living Below the Poverty Line (BPL) in terms of their socio-economic upliftment of women from the minority community, Backward and other classes. Further, the department inspires the women for an overall development in terms of skills and leadership that play-acts as the better income-generating tool.

Objectives of the Scheme

• To find out the potential

women entrepreneurs in the State and support them. • To carry out the awareness programs for the women and identify the income-generating activities that can empower them. • To offer soft loans at a very low-interest rate to women in the States and support them in setting up income generating units. • To provide extended financial assistance and residential facilities for the women in distress. • To establish women Self Help Groups and offer them with microcredit. • To establish Block Level Societies to identify the income-generating activities, trade or skill development training for the minority women in the State. • To make sure that the growth deprived women are benefitted under the scheme. • To encourage women to get out of their comfort zone by offering them leadership and skill development training • To offer them opportunities under the scheme. Funding Pattern Beneficiaries are assisted with the maximum loan amount of Rs.2.5 Lakhs and the funds allocated under the scheme is shared between the Central Government, State Government and the beneficiary. The Central Government contributes 85% of its share; the State Government contributes 10% of its share and the remaining 5% share should be contributed by the beneficiaries.

Mode of Repayment

Beneficiaries are levied with a rate of interest of 6% and the loan amount, including the rate of interest should be paid within the duration of 5 years from the date of disbursement of the loan amount. The three months duration on the recovery of the principal amount, including the suspension period, is also included in the repayment period. The beneficiaries can choose to repay the loan amount in 20 effortless quarterly instalments.

Eligibility Criteria

Beneficiaries with the following conditions can apply and benefit under the scheme. • Women from the

minority community who is in the age group of 18- 45 years can apply under the scheme. • Applicants should be a permanent resident of the State of Jammu and Kashmir. • Applicant shouldn’t hold any liabilities or debts with any financial institutions/banks. • The annual income of the family residing in the urban areas shouldn’t exceed Rs.55,000, and for the families residing in rural areas, the annual income should be of or below Rs.40,000. • Applicants should present the income level certificate attested by the respective Tahsildar.

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Frequently Asked Questions

Common questions about Income Generation Units for Minority Women in J&K.

The scheme aims to empower and support women entrepreneurs from minority communities in Jammu and Kashmir by providing them with financial assistance, training, and opportunities to establish income-generating units or businesses. It focuses on the socio-economic upliftment of women from marginalized sections.

Women from minority communities aged between 18 and 45 years, who are permanent residents of Jammu and Kashmir, are eligible to apply for this scheme. They should not have any outstanding debts or liabilities with financial institutions, and their family's annual income should not exceed the specified limits.

The scheme offers a maximum loan amount of Rs. 2.5 lakhs to eligible beneficiaries for setting up income-generating units or businesses.

The Central Government contributes 85% of the loan amount, the State Government contributes 10%, and the beneficiary contributes the remaining 5%.

Beneficiaries are required to pay an interest rate of 6% on the loan amount. The loan amount, including the interest, should be repaid within 5 years from the date of disbursement, with the option to pay in 20 quarterly installments.

The key objectives of the scheme include identifying potential women entrepreneurs, conducting awareness programs, providing soft loans and financial assistance, establishing self-help groups and block-level societies, offering skill development training, and ensuring that underprivileged women benefit from the scheme.

The scheme provides extended financial assistance and residential facilities for women in distress situations, helping them to become financially independent and secure.

The scheme supports a wide range of income-generating activities, trades, or businesses proposed by the beneficiaries, as long as they are viable and in line with the scheme's objectives.

The scheme aims to encourage women to step out of their comfort zones by offering them leadership and skill development training. This helps them gain confidence and the necessary skills to establish and manage their own income-generating units or businesses.

Block Level Societies are established under the scheme to identify suitable income-generating activities, trades, or skill development training programs for minority women in the state. They play a crucial role in facilitating the implementation of the scheme at the local level.