by On August 15, 2023, Prime Minister Narendra Modi announced the Lakhpati Didi Yojana. This scheme provides interest-free financial support ranging from Rs. 1-5 lakh to women involved with Self-Help Groups to help them start their own businesses. In addition to financial aid, these women receive training in financial management and technical skills such as drone repair, plumbing, and LED bulb manufacturing.
Women in these self-help groups are known as Lakhpati Didis, with each family having an annual income of at least Rs. 1 lakh. Finance Minister Nirmala Sitharaman highlighted the aim to empower 3 crore women as Lakhpati Didis in her budget statement on February 1, increasing the previous goal from 2 crore.
The Lakhpati Didi Yojana also offers microcredit, enabling women to secure small loans for various needs like education or business ventures. The scheme promotes savings among women by providing incentive payments. Aspiring women entrepreneurs receive guidance on starting and growing their businesses. Affordable insurance coverage is also provided under this scheme, enhancing family security.
Various empowerment campaigns are conducted to boost women’s confidence. The scheme includes training on market access, marketing strategies, and business planning. Extensive financial literacy workshops cover topics like investments, savings, and budgeting to equip women with essential financial knowledge.
Guaranteed product sales opportunities are available through departmental stores and group fairs held at different locations.
Eligibility Criteria
- The applicant must be a resident of India.
- Applicant must be associated with a self-help group.
- The applicant’s age limit should be 18 to 50 years.
