Why in the News?
The government has achieved the milestone of 3 crore Lakhpati Didis a year ahead of the March 2027 target and has now set a new goal of 6 crore by March 2029.
About Lakhpati Didi Initiative
- Objective: Enable women associated with SHGs to earn a sustainable annual household income above ₹1 lakh.
- Ministry: Ministry of Rural Development
- Launched: in 2023 under the Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM).
- A Lakhpati Didi is a woman member of a SHG who earns more than ₹1,00,000 annual household income.
- The income should be sustainable with an average monthly income of at least ₹10,000, maintained for four agricultural seasons or business cycles.
- Criteria for identifying lakhpati didi
- A SHG member who has completed a minimum of two years and has availed of the Community Investment Fund (CIF).
- A beneficiary of livelihood intervention through the mission and practising at least two livelihood activities.
Financial Assistance under the Lakhpati Didi Initiative
Fund/Programme | Purpose |
Revolving Fund (RF) |
|
Community Investment Fund (CIF) |
|
Capitalization Support |
|
Women Enterprise Acceleration Fund |
|
Community Enterprise Fund (CEF) |
|
Viability Gap Fund (VGF) | Cover operational expenses until sustainability |
Bank Linkage | Connect SHG members with banking system |
Start-Up Village Entrepreneurship Programme (SVEP) | Promote rural enterprises of SHG women, training, financial support |
One Stop Facility (OSF) | Block-level incubation centres, business development services |
Micro Enterprise Development (MED) | Support non-farm enterprises, training, handholding, financial support |
Incubation and Cluster Promotion | Support women-led enterprises, enhance productivity, market linkages |
Aajeevika Grameen Express Yojana (AGEY) | Subsidised loans for rural transport services |
Way Ahead
- Strengthen Access to Finance: Expansion of Business Correspondent (BC) Sakhis providing doorstep banking has improved credit access for SHGs and reduced loan NPAs to around 1.76%. (Rural Development Ministry).
- Strengthen Institutional Support: Improve coordination between government departments, financial institutions, NGOs, and private sector partners for better governance.
- Technological advancement: Promote the use of technology in SHG operations by enhancing digital literacy and access. E.g., Project EShakti by NABARD.
- Leverage Artificial Intelligence: AI-driven tools help SHGs move beyond manual record-keeping. They analyze group savings and repayment patterns to predict credit needs and identify members ready for larger enterprise loans.
- Regional focus: Target initiatives like the scheme for promoting Women SHGs (WSHGs) in backward and LWE-affected districts.
