Question: On April 5th, 2018, the President of India graced and addressed which annual of session of FICCI Ladies Organization (FLO) in New Delhi?
- On April 5th, 2018, the President of India, Shri Ram Nath Kovind, graced and addressed the 34thannual session of FICCI Ladies Organisation (FLO) in New Delhi.
- President praised the women as they contribute to our economy at work and at home, in many diverse ways.
- He urged the members of FLO to see how they can make these businesses – largely run by women – integral to their value chains and emphasize that if more women become part of the workforce, both household incomes and our GDP will rise.
- The government has a role here, but so do civil society and business – and organisations such as FLO.
- It is notable that stand-Up India initiative was launched in April 2016 to encourage entrepreneurship among women, SCs and STs.
- About 45,000 loans have been disbursed, mainly to sole proprietors.
- Almost 39,000 of these have gone to women – an overwhelming proportion. Under the MUDRA scheme, over the past three financial years, about 117 million loans have been sanctioned.
- Close to 88 million of these loans have gone to women entrepreneurs and he was happy to note that, as of December 2017, the number of NPAs in the MUDRA scheme is less than eight per cent of the loans sanctioned.
- It is admirable that at the grassroots of our country – in small hamlets and among traditionally underprivileged and deprived communities – MUDRA entrepreneurs are striving to pay back their loans.