People are eagerly awaiting the upcoming Budget 2024. Discussions are primarily focused on enhancing women’s economic empowerment through targeted schemes.
Government initiatives aimed at improving financial inclusion and supporting entrepreneurial aspirations among women are set to play a crucial role in shaping the economic outlook.
At the center of these efforts is the Pradhan Mantri Jan Dhan Yojana (PMJDY), which aims to ensure universal access to banking facilities, including savings and deposit accounts.
Another key program, the Pradhan Mantri MUDRA Yojana (PMMY), provides loans to women entrepreneurs without requiring collateral, enabling them to start and expand their businesses without traditional financial barriers.
The upcoming budget presents an opportunity to further support these efforts and pave the way for a more equitable economic landscape.
A look at major government schemes for women:
Mahila Samman Savings Certificate Scheme
Introduced in Budget 2023, the Mahila Samman Savings Certificate is a one-time new small savings scheme available for a two-year period until March 2025, offering a fixed interest rate of 7.5% for women/girls. The maximum deposit amount is set at 2 lakh, and partial withdrawals are allowed under this scheme.
Sukanya Samriddhi Yojana (SSY)
Sukanya Samriddhi Yojana is one of the savings schemes offered by India Post and is considered the best scheme for girls. The interest rates applicable are reviewed every quarter. A legal guardian/natural guardian can open an SSA in the name of a girl child, and the account can be opened up to the age of 10 years.
Beti Bachao Beti Padhao Scheme
The Beti Bachao Beti Padhao scheme ensures the survival, protection, and education of girls. The objectives of this initiative are:
- Prevention of gender-biased sex-selective elimination
- Ensuring the survival and protection of girls
- Ensuring the education and participation of girls
Sakhi Niwas
This scheme aims to promote the availability of safe and convenient housing for working women in urban, semi-urban, or even rural areas where employment opportunities exist, along with daycare facilities for their children wherever possible. The scheme assists in the construction of new hostel buildings, expansion of existing hostel buildings, and the construction of hostel buildings in rented premises.
Assisted working women’s hostel projects under this scheme are available to all working women, without any discrimination regarding caste, religion, marital status, etc., as per the standards laid down by the scheme.