Question

“Self–help groups eliminates poverty and empowers women”. Substantiate with suitable answer.

Answer 1

Self Help Groups help the poor to become self-reliant in terms of savings and generating income.

1. They avail the facilities of loans from formal sources like banks at low rate of interest.
2. They do not demand collateral and so it is easy to access by the poor.
3. Self-help groups are exclusively meant for rural women to make them Economically independent through self-employment opportunities.
4. Helps to improve other development factors such as literacy levels, improved healthcare and better family planning.
5. Economic empowerment: SHGs provide women with a platform to save and access credit at affordable rates, which enables them to start and expand small businesses. Thus improving the standard of living.
6. Skill development: SHGs in India have also been successful in providing skill development and training opportunities to women. Through training programs, women are equipped with the necessary skills to start and run successful businesses.
7. Social empowerment: By providing a platform for women to come together, share their experiences, and support each other, SHGs have empowered women to take charge of their lives and become active participants in their communities.