Success Stories : Mukta Naik, Poultry Farming
Mrs. Mukta Manjunath Naik is 30 years of age and has completed her 12th Grade. Mukta is a member of the self help group “Navashakti”, founded on 29th November 2009 in Alvekodi village in Karnataka. Mukta is married and has 2 children, one boy and one girl.
Mukta was running a very small poultry business with her husband out of her house. A year and half ago, they decided to approach a bank for an additional loan to expand the business. The bank agreed to fund 70% of the loan amount. Mukta then borrowed the balance amount of Rs. 30,000 from the group which has availed of this loan from Shalmala, and used the proceeds to build a proper shed and other infrastructure to scale up the business.
Today the family’s approximate monthly income is Rs. 5000, annual Rs. 60,000. Prior to the expansion Mukta was a BPL (below poverty line) card holder but now their income is enough to take them above the poverty line. The family uses part of the money towards education of the children. As of November 2012, Mukta has repaid about 80% of the loan.