Daily Current Affairs : 8-July-2024

In India, women entrepreneurs play a vital role in driving economic growth. However, they often face challenges when it comes to accessing financial resources and developing the necessary business skills. To address these challenges, the Women Entrepreneurship Platform (WEP) and TransUnion CIBIL have partnered to launch the SEHER Program. This initiative is designed to empower women entrepreneurs across India by enhancing their financial literacy and business acumen.

What is the SEHER Program?

The SEHER Program (Sustainable, Empowered, Holistic, and Entrepreneurial Resources) is focused on supporting women entrepreneurs by providing them with the tools and knowledge they need to grow their businesses. The program aims to:

  • Enhance financial literacy: Educating women on how to access and manage credit, which is essential for scaling their businesses.
  • Develop business skills: Helping women entrepreneurs sharpen their abilities in areas such as financial management, marketing, and strategic planning.
  • Promote economic development: By empowering women entrepreneurs, the SEHER program contributes to India’s economic growth and job creation.

The Importance of Women Entrepreneurship in India

India is home to 63 million micro, small, and medium enterprises (MSMEs), of which 20% are owned by women. These women-owned businesses employ 27 million people. Despite these numbers, women entrepreneurs face several barriers, including limited access to finance, gender bias, and a lack of mentorship.

  • Potential for growth: Accelerating women’s entrepreneurship could result in over 30 million new women-owned enterprises.
  • Job creation: It could create 150 to 170 million additional jobs in the country, significantly contributing to India’s overall economic development.

WEP and the Financing Women Collaborative (FWC)

The SEHER Program is part of WEP’s Financing Women Collaborative (FWC), a pioneering initiative aimed at improving access to finance for women entrepreneurs. This platform brings together government agencies, private sector organizations, and other stakeholders to address the unique challenges faced by women in business.

Important Points:

  • SEHER Program aims to empower women entrepreneurs in India by enhancing financial literacy and business skills.
  • The program is a partnership between Women Entrepreneurship Platform (WEP) and TransUnion CIBIL.
  • Key goals of the SEHER Program:
    • Improve financial literacy, helping women manage and access credit.
    • Develop essential business skills, including financial management, marketing, and strategic planning.
    • Contribute to economic development by promoting women entrepreneurship.
  • Women in India own 20% of the 63 million MSMEs, employing 27 million people.
  • Potential benefits of empowering women entrepreneurs:
    • Could create over 30 million new women-owned businesses.
    • Could generate 150-170 million new jobs, boosting the economy.
  • The SEHER Program is part of WEP’s Financing Women Collaborative (FWC), a platform that addresses financial challenges faced by women in business.
  • Goal: Create a more inclusive and prosperous economy by supporting women entrepreneurs.

Why In News

The Women Entrepreneurship Platform (WEP), in collaboration with TransUnion CIBIL, launched the SEHER program to empower women entrepreneurs with essential financial knowledge and business skills, fostering growth and innovation in India’s entrepreneurial ecosystem.

MCQs about The SEHER Program

  1. What is the primary goal of the SEHER program launched by WEP and TransUnion CIBIL?
    A. To provide financial loans to women entrepreneurs
    B. To promote gender equality in corporate leadership
    C. To enhance financial literacy and business skills for women entrepreneurs
    D. To create new job opportunities for women
    Correct Answer: C. To enhance financial literacy and business skills for women entrepreneurs
    Explanation: The SEHER program aims to empower women entrepreneurs by improving their financial literacy, helping them manage and access credit, and developing their business skills for growth.
  2. Which platform is responsible for launching the SEHER program in India?
    A. NITI Aayog
    B. Women Entrepreneurship Platform (WEP)
    C. TransUnion CIBIL
    D. Financing Women Collaborative (FWC)
    Correct Answer: B. Women Entrepreneurship Platform (WEP)
    Explanation: The SEHER program was launched by the Women Entrepreneurship Platform (WEP) in collaboration with TransUnion CIBIL to support women entrepreneurs in India.
  3. What percentage of India’s MSMEs are owned by women?
    A. 10%
    B. 15%
    C. 20%
    D. 30%
    Correct Answer: C. 20%
    Explanation: According to the essay, women own 20% of the 63 million micro, small, and medium enterprises (MSMEs) in India, contributing significantly to the country’s economy.
  4. What is the potential economic impact of accelerating women’s entrepreneurship in India?
    A. It could create 30 million new women-owned enterprises and generate 150 to 170 million jobs.
    B. It could reduce gender inequality in the workplace.
    C. It could create 100 million new jobs but only a few women-owned businesses.
    D. It could limit job creation but focus on scaling existing businesses.
    Correct Answer: A. It could create 30 million new women-owned enterprises and generate 150 to 170 million jobs.
    Explanation: Accelerating women’s entrepreneurship in India has the potential to create over 30 million new women-owned businesses and generate 150 to 170 million new jobs, significantly boosting the country’s economy.

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