The Lakhpati Didi Yojana (LDY) is a government initiative launched in dec 23, 2023 with the aim of empowering women through financial inclusion and self-sufficiency. It targets women belonging to Self-Help Groups (SHGs) and equips them with the skills and resources to achieve an annual income of at least ₹1 lakh (₹100,000). The scheme has witnessed significant growth in recent years, and the Union Budget 2024 set an ambitious target of creating 3 crore Lakhpati Didi’s across the country.
The Lakhpati Didi Yojana holds immense potential for creating a significant impact on rural India’s economic and social landscape. By enabling women to become financially self-sufficient, the scheme can contribute to poverty alleviation, improved household income, and increased women’s participation in decision-making processes within families and communities.
In the complete guide we will check about Lakhpati Didi Yojana 2024, covering its benefits, eligibility criteria, application process, and other crucial details.
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Lakhpati Didi Yojana 2024
| Implementing Ministry | Ministry of Rural Development (MoRD) |
| Target Group | Women members of Self Help Groups (SHGs) |
| Expected Outcome | Empower women to earn over Rs. 1 lakh annually (“Lakhpati Didis”) |
| Official Website | lakhpatididi.gov.in |
Lakhpati Didi Scheme Benefits
The Lakhpati Didi Yojana is a collaborative effort between the Ministry of Rural Development (MoRD) and the National Bank for Agriculture and Rural Development (NABARD). It focuses on empowering women associated with SHGs by providing them with:
- Financial Assistance: The scheme facilitates access to loans at concessional interest rates or even interest-free loans in some cases. This empowers women to initiate or expand their businesses.
- Skill Development: LDY offers skill development training programs to enhance women’s entrepreneurial abilities and equip them with the necessary skills to manage their ventures effectively.
- Market Linkage: The scheme helps women connect with potential markets by organizing exhibitions, trade fairs, and marketing workshops.
Eligibility Criteria for Lakhpati Didi Yojana
To be eligible for the Lakhpati Didi Yojana, women must fulfill the following criteria:
- Be a member of a Self-Help Group (SHG): The scheme is exclusively for women who are actively involved in a registered SHG.
- Age Limit: The age criteria may vary slightly depending on the specific state implementing the scheme. However, it typically falls within the range of 18 to 50 years.
- Annual Income: The applicant’s annual household income should generally be less than ₹1 lakh (₹100,000).
- State Residency: Applicants must be permanent residents of the state implementing the Lakhpati Didi Yojana.
Required Documents For LDY Application
- Application form (duly filled and signed)
- Identity proof (e.g., Voter ID, Aadhaar card)
- Address proof (e.g., Ration card, Electricity bill)
- Self-Help Group (SHG) membership certificate
- Income certificate
- Business plan (if applicable)
- Two passport-sized photographs
Application Dates
The Lakhpati Didi Yojana is an ongoing scheme. However, specific application windows might be established by individual states. It’s advisable to contact your local SHG or the State Rural Livelihood Mission (SRLM) for details on the current application dates in your area.
How To Apply For The Lakhpati Didi Yojana (Scheme) in 2024
- Contact your SHG Leader: Discuss your interest in applying for the Lakhpati Didi Yojana with your SHG leader. They will guide you through the process and provide necessary assistance.
- Prepare Required Documents: Ensure you have all the required documents mentioned earlier readily available.
- Attend Training Sessions: The SHG or implementing agency might conduct training sessions on financial literacy, business management, and project proposal development. Participation in these sessions is often mandatory.
- Develop a Project Proposal: In collaboration with your SHG, prepare a detailed project proposal outlining your business plan, loan requirement, and repayment strategy.
- Submit Application: Submit the completed application form, along with all the supporting documents, to your SHG leader or the designated authorities at the State Rural Livelihood Mission (SRLM) office.
Important Links
- Lakhpati Didi Yojana (Scheme) Website: lakhpatididi.gov.in