2nd February 2024 (10 Topics)
Lakhpati didi scheme
Context
Interim budget increases target for Lakhpati Didi scheme.
About
About Lakhpati Didi scheme
| According to the World Bank, only 20.5% of women in India participated in the labor force in 2019, compared to 76.1% of men. Moreover, the gender gap in literacy rate was 14.4% in 2018, with 74.4% of men and 60% of women being literate. |
The Lakhpati Didi Scheme aims to provide skill development training and financial assistance to women in self-help groups (SHGs), so that they can start and grow their own micro-enterprises and earn a sustainable income of at least one lakh rupees per annum per household.
Under the lakhpati didi initiative, the government initial aim was to train two crore women.
Present Status-
According to interim budget 2024 Eighty-three lakh self-help groups with 9 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.
Features of the scheme
- The scheme targets women in rural areas, who are members of SHGs under the National Rural Livelihood Mission (NRLM), a poverty alleviation program that organizes rural poor women into SHGs and provides them with credit, capacity building, and market linkages.
- The scheme provides women with skill development training in various sectors, such as agriculture, animal husbandry, handicrafts, food processing, beauty and wellness, plumbing, LED bulb making, and drone operation and repair.
- The training is conducted by various agencies, such as the National Skill Development Corporation (NSDC), the Ministry of Rural Development, and the Ministry of Skill Development and Entrepreneurship.
- The scheme also provides women with financial assistance in the form of interest-free loans of up to five lakh rupees, which can be used to start or expand their micro-enterprises. The loans are disbursed through the SHG-bank linkage program, which enables SHGs to access formal credit from banks.
- The scheme also provides women with mentoring and handholding support, through the involvement of community resource persons (CRPs), who are trained and experienced women entrepreneurs from the same or nearby villages.
- The scheme also provides women with market access and exposure, by facilitating their participation in various fairs, exhibitions, and e-commerce platforms, where they can showcase and sell their products and services.
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