Context:

Recently, Prime Minister Narendra Modi launched the Subhadra Scheme on September 17, 2024, aimed at empowering women in Odisha.

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• This initiative promises to provide financial assistance of ₹50,000 over a period of five years to over one crore women of Odisha, marking a significant step towards women's economic independence. 
• The Scheme will be implemented from 2024-25 to 2028-29 and an outlay of ₹55,825 crore has been made for this initiative. 
• The scheme will be operational in all 30 districts of Odisha.

About Subhadra Scheme 

• It is a flagship initiative by the Government of Odisha aimed at financially empowering women, improving their socio-economic status, encouraging digital literacy, and promoting their safety and well-being.
• Cultural Significance: Named after Goddess Subhadra, the scheme resonates deeply with the cultural heritage of Odisha. It reflects the government's commitment to honouring feminine strength and empowerment within the community.

Eligibility Criteria & Exclusions: 

• The scheme targets All married and unmarried girls aged 21 to 60 from economically disadvantaged backgrounds. 
• However, women from economically well-off families, government employees and income taxpayers are excluded from eligibility, ensuring that the support reaches those who need it most.
• Also, women who receive assistance of Rs 1,500 or more per month (or Rs 18,000 or more per year) under any other government scheme will also be excluded. 

Key Features of Subhadra Scheme 

• Financial Assistance: Each eligible woman beneficiaries receive a SUBHADRA Card and will receive a total of ₹50,000 over five years, distributed as ₹10,000 annually. 
• An amount of ₹10,000 per annum would be credited directly to their accounts in two instalments.
• ₹5,000 on Raksha Bandhan (Rakhi Purnima) and 
• ₹5,000 on International Women’s Day (8th March).
• Moreover, in order to encourage digital transactions, 100 beneficiaries with maximum digital transactions will be identified in each gram panchayat and urban local body and an additional incentive of ₹500 shall be given to each of them. 
• It aims to enhance women's financial independence and improve their quality of life.
• Direct Benefit Transfer: The funds will be transferred directly into beneficiaries' Aadhaar-linked bank accounts, eliminating intermediaries and ensuring transparency in fund distribution.

Digital Currency Integration: 

• The scheme has also been linked to the RBI's digital currency pilot project, allowing beneficiaries to spend their funds digitally. 
• This initiative promotes financial literacy and encourages women to engage with modern banking technologies.