With Mudra Yojana, Lakhpati Didi, Sitharaman Stresses on 'Nari Shakti' in Budget

FM Nirmala Sitharaman said that the empowerment of women through entrepreneurship has gained momentum in 10 years.

In a move aimed at empowering women in rural areas, Union Finance Minister Nirmala Sitharaman on Thursday, 1 February, announced the expansion of the 'Lakhpati Didi' Scheme to three crore women.

"Eighty-three lakh SHGs with nine crore women are transforming rural socio-economic landscape with empowerment and self-reliance. Their success has assisted nearly one crore women to become Lakhpati Didi already. They are an inspiration to others," FM Sitharaman said in her interim Budget speech at the Lok Sabha.

The 'Lakhpati Didi' scheme was introduced on 15 August, 2023, with an aim to encourage women in self-help groups (SHGs) to start micro-enterprises within their villages.

Apart from that, Sitharaman recounted a slew of measures introduced for women by the Narendra Modi-led BJP government.

"The empowerment of women through entrepreneurship, ease of living, and dignity for them has gained momentum in these ten years."

FM Nirmala Sitharaman

Here are the key highlights from FM Sitharaman's speech:

• The FM announced that thirty crore Mudra Yojana loans have been given to women entrepreneurs.

• Female enrolment in higher education has gone up by twenty-eight percent in ten years, Sitharaman said.

"In STEM courses, girls and women constitute forty-three per cent of enrolment - one of the highest in the world. All these measures are getting reflected in the increasing participation of women in workforce," the finance minister said.

• During her speech, Sitharaman said that making ‘Triple Talaq’ illegal, passing the Women's Reservation Bill, and giving over 70 percent houses under PM Awas Yojana in rural areas to women as sole or joint owners has "enhanced" the dignity of women.

• The finance minister also announced that the government would encourage cervical cancer vaccinations for girls between the ages of 9-14.

What Did The FM Say in 2023? 

In 2023, Sitharaman had announced a one-time saving scheme for women, called 'Mahila Samman Saving Certificate', for a period of two years, with a fixed interest rate of 7.5 percent.

Apart from that, the Finance Minister also stated that the Deen Dayal Antyodaya Yojana National Rural Livelihood Mission "has achieved remarkable success by mobilizing rural women into 81 lakh Self Help Groups (SHG)."