Finance Minister Nirmala Sitharaman presented the full Union Budget for the year 2024 in the Lok Sabha on July 23. It is being speculated that the Finance Minister may make some significant announcements regarding women in the upcoming budget. Experts believe that the government could announce the Lakhpati Didi 2.0 scheme, which could prove to be a game-changer in making rural women financially strong.
What is ‘Lakhpati Didi 2.0?’
‘Lakhpati Didi 2.0’ is an enhanced version of the ‘Lakhpati Didi’ scheme, aimed at empowering rural women. It focuses on skill development, digital banking, and providing interest-free loans. The update may include expanded digital literacy, easier loan access, and integration with other schemes to boost financial independence and participation in e-commerce.
Announcement Made in the Interim Budget
In the interim budget presented in February this year, Finance Minister Nirmala Sitharaman launched the ‘Lakhpati Didi’ scheme. The goal of this scheme was to help three crore women in the country become financially strong, which was more than the earlier target of two crore. The Finance Minister highlighted how self-help groups (SHGs) are changing the socio-economic situation in rural areas by empowering women.
‘लखपति दीदी’ सिर्फ बहनों-बेटियों की आय बढ़ाने के लिए नहीं, बल्कि ये आने वाली पीढ़ियों को सशक्त करने और गांव के पूरे अर्थतंत्र को बदलने वाला अभियान है। pic.twitter.com/fMMviaYacF
— Narendra Modi (@narendramodi) August 25, 2024
Expectations Increased for ‘Lakhpati Didi 2.0’
Because of this, people’s hopes for the ‘Lakhpati Didi 2.0’ scheme have increased. Experts say the government should increase funding for digital literacy programs to help rural women take advantage of online business opportunities. They also suggest that the government should make it easier for women to get loans and access microfinance by connecting them with programs like the National Rural Livelihood Mission.
Interest-Free Loan Available
On August 15, 2023, Prime Minister Modi announced the scheme from the ramparts of the Red Fort. The scheme had been launched earlier in February during the interim budget. It provides vocational training and skill development to women. The goal of the Lakhpati Didi scheme is to encourage women to use digital banking platforms, such as mobile wallets. Under the scheme, the government gives interest-free loans from Rs 1 lakh to Rs 1 crore to women.