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March 11, 2019

Bangla Govt’s policies to boost employment generation

Bangla Govt’s policies to boost employment generation

The Self-Help Group and Self-Employment Department, under the inspiration of Chief Minister Mamata Banerjee, has formulated several policies for developing the work potential of the State’s population.

Swami Vivekananda Swanirbhar Karmasuchi Prakalpa (SVSKP), administered by this department, is one of the most successful policies of the State Government, which has helped in huge generation of employment.

There are two sub-schemes under SVSKP:

  • Atmamaryada: An amount of up to Rs 10 lakh for setting up a single-ownership business
  • Atmasamman: An amount of up to Rs 25 lakh for setting up a multiple-ownership business

Another scheme which has been started is the Paschimbanga Swanirbhar Sahayak Prakalpa. It is an interest subsidy scheme, under which, if a self-help group (SHG) is regular in repaying bank loan, the group has to give only 2 per cent interest on the loan, the rest to be given by the State Government to the bank concerned.

The subsidy amount (the amount which the government will pay to the bank on behalf of the SHG) will be deposited directly in the account of the SHG. Thus the government through this scheme is increasing the profitability of SHGs.