Context:

The Prime Minister of India appreciated the ‘Lakhpati Didi’ scheme, a significant initiative to empower women and promote rural development. 

More on the news

• The Prime Minister attended an event to felicitate 11 lakh new Lakhpati Didis, A women members of the Self Help Group who earn 1 lakh annually at Jalgaon, Maharashtra
• The Self-help groups (SHGs) are active in the livestock sector, while others have been working in government schemes like ‘Krishi Sakhi’ and ‘NAMO Drone Didi’.
• The PM also released a revolving fund of Rs 2,500 crore to benefit about 48 lakh members of 4.3 lakh SHGs at the Jalgaon event.
• PM also disbursed bank loans of Rs 5,000 crore, benefiting 25.8 lakh members of 2.35 lakh SHGs.

Lakhpati Didi scheme

• In August 2023, the Prime Minister unveiled a vision to create two crore ‘Lakhpati Didis,’ or prosperous sisters, in villages through the collective power of Women’s Self-Help Groups (SHGs).
• Subsequently, the scheme was launched in December 2023 by the Government of Rajasthan.
• A Lakhpati Didi is a Self-Help Group member who earns an annual household income of Rupees One Lakh (Rs. 1,00,000) or more.
• This income is calculated for at least four agricultural seasons and/or business cycles, with an average monthly income exceeding Rupees Ten Thousand (Rs. 10,000), so that it is sustainable.
• Since the inception of the Lakhpati Didi Yoajna, one crore women have already been made Lakhpati Didis
• The target for training ‘Lakhpati Didi’ increased from existing 2 crore to 3 crore in the interim budget of 2024-25.
• The scheme falls under the Ministry of Rural Development.