Interim Budget 2024: 'Lakhpati Didi' scheme explained
What's the story
In her budget speech, Finance Minister Nirmala Sitharaman on Thursday announced the government's plans to increase the target of the "Lakhpati Didi" scheme from two crore women to three crore. A flagship project of the central government, it was first announced by Prime Minister Narendra Modi in 2023 to provide skill development training to rural women. Per government estimates, at least one crore women have already benefited from the initiative. Let's take a look at what the scheme is about.
Skill training
About scheme's objective and impact
The Lakhpati Didi scheme, which is part of the Deendayal Antyodaya Yojana-National Rural Livelihoods Mission (DAY-NRLM), encourages women to establish micro-enterprises and earn a minimum annual income of Rs. 1 lakh. Under this scheme, women are trained in skills such as plumbing, LED bulb making, drone operation and repair, and tailoring and weaving. Once the training is completed, they are provided with opportunities to earn an income using their new skills.
Sustainable income
Who are Lakhpati Didis
"Lakhpati Didis" are women members of self-help groups (SHGs) who use their skills to generate a sustainable income of at least Rs. 1 lakh per year per household. Each SHG household is encouraged to take up multiple livelihood activities coupled with value chain interventions. In addition, monthly camps are established in neighborhoods where eligible women can apply for loans. Notably, a loan of Rs. 5 lakh is given to every eligible woman under this scheme.
Twitter Post
Sitharaman's announcement for 'Lakhpati Didis'
Lakhpati Didi
— PIB India (@PIB_India) February 1, 2024
83 lakh SHGs with 9 crore women are transforming rural socio-economic landscape with empowerment & self-reliance.
Their success has assisted nearly 1 crore women to become lakhpati didi already. They are an inspiration for others. It has been decided to enhance… pic.twitter.com/aZ673Oz1iP
Women in focus
Other budget announcements for women
During her speech, Sitharaman announced the extension of healthcare insurance coverage under the Ayushman Bharat scheme to all Anganwadi and Accredited Social Health Activist (ASHA) workers. The finance minister also highlighted that female enrollment in higher education over the past decade has gone up by 28%. Notably, women comprise 43% of students in science, technology, engineering, and mathematics (STEM) courses.
Facts
PM Modi's vision for women-led development
Over the years, the Modi government has taken targeted steps to empower women economically. The "Lakhpati Didi" scheme is one of them. According to the Economic Survey 2022-23, over 75% of female workers in rural areas worked in the agricultural industry until 2021. This indicates that women need to be upskilled and provided opportunities in agriculture-related fields such as food processing, reports said.