Lakhpati Didi 2.0: Will Budget 2024 expand women’s livelihood programs?

In anticipation of Budget 2024, experts foresee Lakhpati Didi 2.0 as a potential game-changer for rural women’s economic empowerment. The revised approach aims beyond income targets, focusing on sustainable business models, skill development, and market linkages.

Finance Minister Nirmala Sitharaman unveiled the ‘Lakhpati Didi’ scheme during the Interim Budget 2024. The scheme aims to empower three crore women, an increase from the previous target of two crore. Highlighting the impact of self-help groups (SHGs), which include 83 lakh members and nine crore women, the Minister emphasized their role in transforming rural socio-economic dynamics through empowerment and self-reliance.

Anticipation is mounting for Lakhpati Didi version 2.0 in Budget 2024, with expectations centred on transformative impacts beyond income generation. Ridhima Kansal, director of Rosemoore, highlighted potential expansions focusing on sustainable skill development and enhanced market linkages. She suggested increased allocations for digital literacy programs to empower rural women to capture e-commerce opportunities. She envisioned improved access to credit and microfinance, integrating the scheme with initiatives like the National Rural Livelihood Mission for comprehensive economic participation.

Mamta Shekhawat, founder of Gradding.com, emphasized that the revised approach could significantly elevate women’s livelihood programs by fostering women-led cooperatives, enhancing market influence, and providing social security benefits for long-term financial stability. Nidhi Aggarwal, Founder of SpaceMantra, expressed optimism that Lakhpati Didis 2.0 could catalyze gender-inclusive economic policies on a global scale.

Pooja Choudhary, Founder of Lavanya The Label, envisioned ‘Destination Lakhpati Didi’ in Budget 2024 as a catalyst for rural women’s financial inclusion and as a global role model for gender-inclusive economic development programs.

With the formation of the new BJP-led NDA government, Finance Minister Nirmala Sitharaman is set to present her seventh consecutive Union Budget later this month, making her the first finance minister to do so. Media reports suggest the Budget may be presented on July 24 at 11 a.m., although this timing has not been confirmed. Independent verification by Mint was not available at the time of reporting.

Disclaimer: The views and recommendations made above are those of individual analysts, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

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