MUMBAI: In order to boost and encourage women entrepreneurship, the state cabinet on Tuesday approved separate ‘industrial policy for women entrepreneur’.
“Maharashtra is the first state in the country to having a policy for women entrepreneurs,” claimed industries minister Subhash Desai, after the cabinet meeting.
“The policy is expected to fetch about Rs 2,000 crore worth of investment and also create about a lakh of jobs across the state in the next five years. The government will keep aside Rs 648 crore in the next year budget while this year Rs 15 crore provision has been made,” he said.
The policy stated that a woman entrepreneur would get from Rs 15 lakh up to Rs 1 crore financial assistance in a proportion of 15%-35% of the capital investment of project at the subsidized rate of interest up to 5%. At the same time, the projects will get an electricity at a subsidized rate of Rs 1-2 per unit instead of Rs 7-8 per unit charges for industries. The disbursement of the loan period will be in 5 years with same amount or instalment, once the actual production from the industrial unit get starts.
In order to benefit the women, the policy has defined the woman entrepreneur as ‘a group of women entrepreneurs who have financed 100% for the project and hired minimum 50% women employees’ would be treated as the women entrepreneur.
Under the policy, a few stalls or some of the area in malls, commercial complexes or market yard will keep reserved only for women businesspersons. Also, the land will be reserved for women industrialists in Maharashtra Industrial Development Corporation (MIDC) area across the state. The woman and child development department too will keep aside Rs 50 crore for women entrepreneurs under the policy.
The policy will be valid for 5 years or till the further directives are issued by the department, the minister said.
The cabinet also rejected a proposal to hike in pension of sitting and former legislators from Rs. 40,000 per month to Rs. 50,000 on the ground of stressed financial situation of the state. However, it approved to hike travel allowances of the MLAs from Rs. 6 per Kilo Meter to Rs. 20 per Km.
A CMO official said that cabinet also approved doubling of attendance allowance from Rs. 1000 per day to Rs. 2000 per day for the legislators.
In upcoming winter session the government will bring the amendment bill of Maharashtra Legislative Members Salaries and Allowance Act, the official said.