Lakhpati Didi target enhanced to 3 crore

Srinagar, Feb 1: In a significant move toward women empowerment, Union Finance Minister Nirmala Sitharaman has increased the target for Lakhpati Didi to 3 crore. This decision has garnered positive responses from female entrepreneurs and aspiring self-employed women in Kashmir. The Lakhpati Didi initiative focuses on fostering economic independence among women by encouraging entrepreneurship and self-employment.

While presenting the Interim Budget 2024-25 in Parliament, Union Minister for Finance and Corporate Affairs, Sitharaman announced that it had been decided to enhance the target for Lakhpati Didi from 2 crore to 3 crore.

She said that eighty-three lakh SHGs with nine crore women were transforming the 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. Their achievements will be recognised by
honouring them,” Sitharaman said.

She said that buoyed by the success, the target for Lakhpati Didi had been enhanced.

Sitharaman said that Prime Minister Narendra Modi firmly believed that there was a need to focus on four major castes.

“They are, ‘Garib’ (poor), ‘Mahilayen’ (women), ‘Yuva’ (youth) and ‘Annadata’ (farmer). Their needs, their aspirations, and their welfare are our highest priority. The country progresses when they progress,” she said.

Sitharaman said that all four require and receive government support in their quest to better their lives and their empowerment and well-being would drive the country forward.

She emphasised that the government was working with an approach to development that was all-round, all-pervasive and all-inclusive.

“It covers all castes and people at all levels. The government is working to make India a ‘Viksit Bharat’ by 2047,” Sitharaman said. “For achieving that goal, we need to improve people’s capability and empower them.”

Kashmir’s female entrepreneurs have expressed their approval, citing the potential benefits this elevated target brings.

They believe that the increased goal would provide more opportunities for women to initiate and establish their businesses, contributing to their financial independence and overall empowerment.

Masrat Subhan, a female entrepreneur in Srinagar, said, “It is a great initiative that the government is focussing on promoting girls in the self-employment sector, it will help break shackles for aspiring female entrepreneurs and at the same time create opportunities for young girls to be their bosses rather than run after jobs.”
Mansha Bhat, an aspiring entrepreneur keen on starting her own business, expressed her enthusiasm for the government's initiative, saying, “The increased target for Lakhpati Didi is a welcome move. It provides aspiring female entrepreneurs like me with the encouragement and financial support needed to turn our business dreams into reality. This initiative not only fosters economic independence for women but also plays a crucial role in empowering us to contribute actively to the entrepreneurial landscape. I am eager to seize this opportunity and embark on my entrepreneurial journey.”

Mansha’s perspective reflects the positive impact the initiative can have on young women aspiring to become self-employed and build successful businesses.