WEP Initiative in Mizoram
The NITI Aayog has set up the Women Entrepreneurship Platform’s (WEP) Mizoram Chapter, the first of its kind in the northeastern region, to boost entrepreneurship among the women, officials said on Thursday.
Mizoram Chief Minister Lalduhoma, addressing the state workshop on women-led development through entrepreneurship, expressed his gratitude to NITI Aayog for selecting the state as the first state in the northeast to establish a WEP initiative Mizoram.
The Chief Minister said that the presence of Member, NITI Aayog V.K. Paul at this event is an encouragement for all and “we firmly believe it would yield positive outcomes”.
He said that the women in Mizoram are highly industrious and capable, playing a vital role in the state’s economic progress.
“To support young and aspiring entrepreneurs, the state government has earlier launched the ‘Bana Kaih‘ (Handholding) scheme. Currently, in its pilot phase, we have selected 517 progress partners, of whom 140 (27 per cent) are women. We hope more women will benefit from this scheme, and we are also working closely with NITI Aayog to collaborate on Bana Kaih and other schemes,” Lalduhoma said.
He also extended his appreciation to Labour, Employment, Skill Development & Entrepreneurship Minister Lalnghinglova Hmar for leading the initiative of this event.
NITI Aayog member Paul lauded Mizoram’s women for their entrepreneurial spirit and financial independence. He emphasised that the WEP, launched on Thursday by the Chief Minister, would serve as a key enabler for women’s empowerment and economic growth.
Paul urged women entrepreneurs to register with WEP and take full advantage of its opportunities.
“The empowerment of women is crucial for India’s overall development, and Prime Minister Narendra Modi himself prioritises this cause. NITI Aayog is committed to supporting this mission, and through WEP, we aim to bring transformative change,” he stated.
The Mizoram government last year launched the ‘Handholding Scheme’, locally named ‘Bana Kaih’, comprising five key components, as outlined in the government guidelines with the main feature being a collateral-free and interest-free bank loan.
A financial support package for selected progress partners (beneficiaries), offering loans up to Rs 50 lakh through partner banks. The state government would serve as a guarantor for these project loans under existing national credit guarantee schemes, an official stated.
He said that beneficiaries who consistently repay their loans may also benefit from interest subvention of up to 100 per cent, providing significant relief and encouragement to those who meet their repayment obligations. The scheme also includes the Chief Minister’s Special Category Scheme, which provides grant-in-aid of up to Rs 1 lakh, the official stated.
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