Published: 9th Feb, 2024
Context
In the interim budget, the government has announced to enhance the target of 'Lakhpati Didi' Scheme.
What is ‘Lakhpati Didi’ initiative?
- In 2023, the government announced the ‘Lakhpati Didi’ scheme to provide skill development training to 20 million women in villages across the country.
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The term 'Lakhpati Didis' refers to women members of Self Help Groups (SHGs) who harness their entrepreneurial skills and earn a sustainable income of at least Rs 1 lakh per year per household. |
- Under this scheme, the women would be trained in skills like plumbing, LED bulb making and operating and repairing drones.
Assessing the success
- The Lakhpati Didi Scheme, aiming to empower two crore women in villages, has achieved notable success by reaching 83 lakh self-help groups and benefiting 9 crore women.
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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. |
- With a financial injection of ?1 lakh per household for one crore beneficiaries, this initiative is poised to significantly uplift the economic status of rural women.
- This empowerment will:
- stimulate the rural economy
- enhance credit demand for micro-financiers, particularly from women and self-help groups
- reduce stress on asset quality issues
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Other announcements in the Budget
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