What Is 'Lakhpati Didi' Scheme? Decoding Govt's Initiative That FM Sitharaman Mentioned In Budget

The BJP-led NDA government has decided to enhance the target for creating 'Lakhpati Didis' from two crores to three crores, Union Finance Minister Nirmala Sitharaman announced on Thursday.

In the interim Budget 2024-25, the Union Minister said 83 lakh self-help groups (SHGs) with nine crore women are transforming rural socio-economic landscape with empowerment and self-reliance.

"Eighty-three lakh SHGs with nine crore women are transforming rural socio-economic landscape with empowerment and self-reliance. Their success has assisted nearly one crore women to become Lakhpati Didi already. They are an inspiration to others," she said.

The Lakhpati Didi scheme is aimed at training women in self-help groups (SHGs) so that they can earn a sustainable income of at least Rs 1 lakh per annum.

"Their achievements will be recognised through honouring them. Buoyed by the success, it has been decided to enhance the target for Lakhpati Didi from 2 crore to 3 crore," she added.

What is 'Lakhpati Didi' scheme?

The "Lakhpati Didi" initiative, a part of the Deendayal Antyodaya Yojana-National Rural Livelihoods Mission (DAY-NRLM), is designed to promote the establishment of micro-enterprises by women. This scheme was announced by Prime Minister during his Independence Day speech on August 15, 2023.

How 'Lakhpati Didi' Will Benefit Women?

The initiative has the objective of providing training to women in self-help groups, empowering them to generate an annual income of at least Rs 1 lakh per household. Each household within the self-help groups is encouraged to engage in various income-generating activities, along with value chain interventions, to achieve a sustainable income of Rs 1 lakh or more per year.

Under this scheme, the women gets a variety of practical skills that are in line with the growing needs of different industries. These skills encompass areas such as plumbing, manufacturing LED bulbs, as well as operating and repairing drones, among others. This diverse training approach allows women to explore various sectors and pursue entrepreneurial prospects.

'Lakhpati Didis' Scheme Is Revolutionizing Lives

Becoming financially independent is crucial for empowering women. The extension of the Lakhpati Didi program is a significant measure taken to empower women. By empowering 8.3 million self-help groups (SHGs) with 90 million women, it is bringing about a transformation in rural areas and creating a million financially independent women. This initiative deserves praise as it promotes financial independence.