A Lakhpati Didi is a member of a self-help group who makes more than Rupees One Lakh (Rs. 1,00,000) per year, with an average monthly income of Rupees Ten Thousand (Rs. 10,000) or more, sustained for at least four business cycles and/or agricultural seasons.
The Lakhpati Didi project aims to provide opportunities, resources, and financial services to empower women from underprivileged backgrounds and assist them escape the cycle of poverty.
Objectives of the Lakhpati Didi Scheme
- promoting women’s financial knowledge and literacy.
- facilitating the use of official financial services, such as credit and savings accounts.
- encouraging women to engage in income-generating ventures and entrepreneurship.
- creating an atmosphere that is favorable to women’s economic empowerment by means of institutional support and capacity building.
Functioning
A Lakhpati Didi is a Self-Help Group (SHG) member whose annual household income is Rs 1,00,000 or more. A potential Lakhpati Didi’s income is assessed over the course of at least four business cycles or agricultural seasons, with an average monthly income of more than Rs 10,000, in order to guarantee the sustainability of this plan.
Eligibility criteria
- The lady applying must live in the state permanently.
- The household of the application woman should not make more than Rs 3 lakh annually.
- The applicant woman’s family should not include any employees in the government.
Additionally, the government released a free app under the business and productivity category when the Lakhpati Didi scheme was first launched, specifically to help SHG households and their members track their income before and after joining the National Rural Livelihood Mission (NRLM). The government hopes to provide the program participants with a range of services, benefits, and information in a timely manner by using this app.
Additional components of the Lakhpati Didi scheme
- Deepening, Strengthening and Expanding Livelihood options
- Implementation Support
- Training and Capacity Building
- Convergence and Partnerships
What Documents Do You Need?
- Aadhar Card
- PAN Card
- Income Certificate
- Residence Certificate
- Bank Account Details
- Registered Mobile Number
- Passport Size Photo
- Email ID
Benifits
- Interest-Free Loans: Women are eligible for interest-free loans up to ₹5 lakh, with amounts ranging from ₹1 lakh.
- Comprehensive skill training and technical assistance are provided by the program to assist women in starting and running successful enterprises.
- Economic Independence: The program assists women in achieving economic independence and self-sufficiency by providing training and financial support.
- Statewide Rural Development: The growth of women in Self-Help Groups is a factor in the state’s overall rural development.
- job Generation: By encouraging women to start their own businesses, the program significantly contributes to the growth of job opportunities.
States in which Lakhpati Didi Yojana available?
- Uttar Pradesh: Training programs and financing are helping a lot of women in this state launch small enterprises.
- Rajasthan: The program is being used by women in Rajasthan to launch businesses in organic and dairy farming, among other fields.
- Haryana: The program assists women in Haryana starting hair salons, boutiques, and other small enterprises.
- Maharashtra: With the aid of the programme, women are opening retail stores, food carts, and crafts enterprises.
- Madhya Pradesh
- Kerala
Impact
Numerous success stories show how this effort has changed women’s lives and contributed to their socioeconomic advancement in their communities. For example, during his address on International Women’s Day 2024, Prime Minister Modi recently showed a video that showcased Nikita Maarikam’s accomplishments as a beneficiary of the Lakhpati Didi Yojana.
The movie told the tale of Nikita, a native of Chhattisgarh who, thanks to this initiative, rose to prominence as an entrepreneur and now manages several lucrative businesses. These days, several nearby schools rely heavily on the Nikita Maarikam Self-Help Group (SHG) to provide nutritious lunches.
conclusion
The Lakhpati project ensures convergence between all government departments and ministries, the private sector, and market participants, hence facilitating a variety of livelihood activities. The plan calls for meticulous planning, execution, and oversight at every stage.