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Today Date : Wednesday, May 22, 2024

Tamil Nadu Launches “Porkaalam (Golden Age)” loan scheme empowering women

Tamil Nadu Launches “Porkaalam (Golden Age)” loan scheme empowering women

In a bid tobolster economic progress among marginalized communities, Tamil Nadu initiatesa pioneering project under the 'Golden Age Loan' scheme, offering financial aidto uplift women across various industries.
Chief Minister Stalin ceremoniouslyinaugurated the project yesterday, marking the beginning of a transformative journey for a hundred beneficiaries who stand to benefit from a Rs. 1.32 croresin loan allocation. To start with, 7 women were given loan of Rs.21.40 lakh eachfor kick-starting their ventures in diverse fields like bracelet business, goatcultivation, silk weaving, and more.
The Economic Development Corporation,acting as a catalyst for National Backward Class Finance, spearheads this initiative in collaboration with state agencies such as the District Central Cooperative Bank, Cooperative Bank, and Agricultural Cooperative Loan Societies. 
The scheme aims to empower individuals by providing accessible loans for small industries and businesses, predominantly benefiting women.This project offers avenues for occupations such as sewing, beauty stations, restaurants, and coconut or vegetable businesses, fostering a diverse entrepreneurial landscape in Tamil Nadu. Initiatives like free bus travel for womenand aRs 1000 monthly allowance for women in families further enhance thequality of life for women across the state.
This ambitious project stands as a beacon of hope, signifying a concerted effort by the government to bridge economic disparities and propel the state towards inclusive growth and development.