While presenting the Budget 2018, the Finance Minister Arun Jaitley said that loans to women from Self-help groups (SHG’s), which grew by 37 percent year on year will be increased to Rs 75,000 crore by March 2019.
Self-help groups, also known as mutual groups, mutual aid, or support groups, are groups of people who provide mutual support for each other. In a self-help group, the members share a common problem, often a common disease or addiction.
According to the Finance Minister, “Loans to Self- Help groups of women increased to about Rs 42,000 crore in 2016-17, growing 37 percent over the previous year”. He also said,”The Government is confident that the loans to the self-help groups will increase to Rs 75,000 crore by March 2019″
The Finance Minister has proposed t increase the allocation to the National Rural Livelihood Mission to Rs 5,750 crore in 2018-19.