Target for ‘Lakhpati Didi’ increased from 2 crore to 3 crore: What is the scheme

The Lakhpati Didi scheme focuses on providing training to women in self-help groups (SHGs), enabling them to generate a sustainable annual income of at least Rs 1 lakh.

Union Finance Minister Nirmala Sitharaman presents the Interim Budget 2024 in the Lok Sabha, at Parliament House in New Delhi, Thursday, Feb. 1, 2024. (PTI Photo)

Finance Minister Nirmala Sitharaman on Thursday announced the government’s decision to raise the target of creating ‘Lakhpati Didis’ from two crores to three crores. The Lakhpati Didi scheme focuses on providing training to women in self-help groups (SHGs), enabling them to generate a sustainable annual income of at least Rs 1 lakh.

While presenting the interim Budget, the Union minister highlighted that 83 lakh self-help groups (SHGs) comprising nine crore women are transforming the rural socio-economic landscape through empowerment and fostering 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.

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“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,” Sitharaman added.

In an attempt to reach out to the economically marginalised before the 2024 Lok Sabha polls, Prime Minister Narendra Modi on August 15, 2023, announced the new initiative — Lakhpati Didi, under which skill training will be provided to two crore women so that they can earn at least Rs 1 lakh annually.

Addressing the nation from the ramparts of the Red Fort on the 77th Independence Day, the prime minister said he has taken forward the issue of women-led development in G-20, where it has received a lot of support.

“Today 10 crore women are associated with Women Self Help Groups and if you go to a village, you will find women working with banks, you will find women working in Anganwadi, you will find women who give medicines. Now my dream is to create 2 crore Lakhpati Didis (women with annual earnings of Rs 1 lakh and more),” PM Modi had said.

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To make two crore Lakhpati Didis, a new alternative in the form of science and technology will be used, Modi had said, adding that they will impart drone pilot training to women so that technology can be brought into the agriculture sector.

Aim of the scheme

The scheme aims to empower women in Self-Help Groups (SHGs) through a comprehensive approach. This includes fostering collective unity among women, enhancing the strength of their federations, and equipping them with the necessary knowledge and skills for livelihood improvement. The scheme is committed to supporting SHG women in various aspects, such as financial assistance, credit support, and interventions aimed at enhancing their overall livelihoods.

To achieve its goals, the scheme focuses on four key components:

a) Social mobilisation and promotion, which involves strengthening self-managed and financially sustainable community institutions for rural communities.
b) Financial inclusion efforts targeted at the rural poor.
c) Sustainable livelihood initiatives for the rural population.
d) Promoting social inclusion, social development, and facilitating convergence for overall community development.

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