Lakhpati Didi Yojana: Women Can Get Receive Rs 5 Lakh, Here's How To Apply

The Lakhpati Didi Yojana is a groundbreaking initiative frequently highlighted by Prime Minister Narendra Modi in his speeches. This scheme is designed to economically empower women by turning them into millionaires in a short period of time. The primary objective of the scheme is to make women financially independent, ensuring their economic stability and growth. However, the scheme is exclusive to women who are members of a Self Help Group (SHG).

Initially, the government set a target to benefit at least 2 crore women under this scheme. This target was later increased to 3 crore women. The ultimate goal is to boost the income of women and their families to at least Rs 1 lakh, which is why it is named the " Lakhpati Didi Yojana."

Who is a Lakhpati Didi?

There are approximately 83 lakh women self-help groups in India, with around 9 crore women associated with them. These women have become self-reliant through various initiatives, and the government launched the Lakhpati Didi Yojana to further increase their income. To date, one crore women have benefited from the scheme, earning them the title of "Lakhpati Didi," meaning their annual family income is at least Rs 1 lakh. This ambitious plan was announced by Prime Minister Narendra Modi from the ramparts of the Red Fort on India's 77th Independence Day.

Benefits of the Lakhpati Didi Scheme

The Lakhpati Didi Scheme offers a range of benefits, including financial aid and skill training, aimed at increasing the income of women. By providing training in technical skills such as LED bulb making, plumbing, and drone repairing, the scheme helps women enhance their earning potential. Additionally, workshops are held to improve their financial literacy. Other benefits include savings options, access to small loans, vocational training, entrepreneurship support, and insurance coverage. The government also assists in providing better market access. To avail these benefits, women must be members of a self-help group.

How to Obtain a Loan under the Lakhpati Didi Yojana

Women aged between 18 and 50 can take advantage of the Lakhpati Didi scheme. To be eligible, they must be residents of the state and members of a self-help group. To apply for a loan to start a business, women need to submit the necessary documents and a business plan to their regional self-help group office. After a review, the application is approved, and the loan is sanctioned. The required documents include an Aadhaar Card, PAN Card, income proof, and bank passbook. Additionally, a registered mobile number and a passport-sized photograph are also needed for the application process.