The correct answer is (a) 7.00%.
The Government of India has approved the proposal of providing loans to Women Self Help Groups (SHGs) at a lower interest rate of 7% to eradicate poverty through women empowerment. This is a significant step in the government’s efforts to improve the lives of women and girls in India.
SHGs are groups of women who come together to save money and borrow money from each other. They are often formed by women who are poor or marginalized, and they provide a way for these women to access financial services that they would not otherwise be able to get.
The government’s decision to provide loans to SHGs at a lower interest rate will make it easier for these groups to access credit and invest in their businesses. This will help them to improve their livelihoods and lift themselves out of poverty.
The government’s decision is also a recognition of the important role that women play in the economy. Women are often the primary caregivers for their families, and they are also often responsible for managing the household finances. By providing loans to SHGs, the government is helping to empower women and give them the tools they need to improve their lives.
The government’s decision to provide loans to SHGs at a lower interest rate is a welcome step in the right direction. It is a step that will help to improve the lives of women and girls in India and contribute to the country’s economic development.
The other options are incorrect because they are not the interest rate that the government has approved for loans to SHGs.