Finance Minister disburses ₹64.89 crore to 475 self-help groups
The financial assistance aims to support 5,736 members in starting or expanding business ventures in Tirunelveli district.
Finance Minister N. Marie Wilson disbursed credit linkage orders worth ₹64.89 crore to 475 self-help groups (SHGs) at a function in Ambasamudram, Tirunelveli district, on Wednesday, according to The Hindu.
The assistance is intended to benefit 5,736 members affiliated with the SHGs to start or expand their business ventures. Wilson said the objective is to create entrepreneurs among women, differently-abled people, and transpersons to uplift their living conditions.
In Tirunelveli district, the administration set a target to provide ₹734 crore in loans to SHGs during this fiscal year. The district has 6,683 SHGs functioning from nine panchayat unions and 204 village panchayats, while another 4,981 SHGs are located across various town panchayats, municipalities, and the Tirunelveli Corporation.
Wilson noted that SHGs interested in farming and non-farming ventures receive training through skill development programmes before receiving financial assistance. This training is meant to help them understand financial management and practical difficulties.
Speaking to reporters, Wilson stated that state finances are robust under the TVK government. Wilson alleged that the previous DMK government inflated the value of every tender by 20 per cent to 30 per cent above actual costs.
The Finance Minister said the current government is examining these tenders to ascertain actual costs and revise them, which has saved money for the Tamil Nadu government.