Lakhpati Baideu: India’s energetic, empowered, entrepreneurial rural women

“Women will work out their own destinies—much better, too, than men can ever do for them. All the mischief to women has come because men undertook to shape the destiny of women.” Swami Vivekananda

Mita Nath 

(mitanathbora7@gmail.com)

Swami Vivekananda, India’s great spiritual philosopher, had emphasised that India’s rise would not be possible if it did not help its women rise. He asked, ‘Can you better the condition of your women? Then there will be hope for your well-being. Otherwise, you will remain as backward as you are now.’

Since 2014, India has made tremendous strides in uplifting its women citizens, from education to empowerment, from deprivation to giving dignity. Behind all its new policies and schemes designed and introduced, it kept women at the centre, as the core beneficiaries. And hence, we see a sea change in the lives of women in the last 10 years vis-à-vis the earlier period since independence. For example, the Beti Bachao Beti Padhao scheme launched in January 2015 by Prime Minister Narendra Modi, just months after taking oath as India’s 15th PM, was aimed at addressing issues of declining child sex ratio (CSR), with an emphasis on educating girl children at the mass level and sensitising the importance and impact of having an educated girl child. Slowly, this brought about behavioural change in society towards birth and the rights of a girl child, which has resulted in increased awareness regarding the prevalence of gender bias and the role of the community in eradicating it. The Sex Ratio at Birth (SRB) has seen an improvement of 16 points, from 918 in 2014–15 to 934 in 2019–20. The gross enrollment ratio of girls in schools at the secondary level has improved from 77.45 to 81.32.

Moving up further, the next schemes were to give women their dignity via the Swaach Bharat toilets in each household, especially in rural remote areas where women had to walk for miles just to relive their natural call. Since then, over 11 crore toilets have been built, and in Assam alone, more than 40 lakh toilets have been constructed at the household level. This has seen women express their happiness to the government for easing their lives and helping them maintain their dignity. Multiple such recurring schemes were introduced to give women a women a bigger opportunity and a better life. But it did not stop there.

It is rightly said that empowering women does not end with accepting women and giving women their place in society, certain privileges, and certain benefits. Real empowerment should include the financial inclusion of women, to financially empower them and strengthen them so that they themselves can independently decide their course of life and choose the best path for their future.

Hence, the current government has very truly increased the gender budget by 129% (Rs 223219.75 crore in 2023–24), which was earlier exceptionally low, which enabled a lot more focus on investment in empowering women in all spheres. Besides, it kept introducing and implementing certain specific schemes that ensured the financial empowerment of women, some directly and many indirectly. For example, take the case of Jan Dhan accounts, where 55.5% are women beneficiaries of the Rs 46.25 crore created, Pradhan Mantri Gareeb Kalyan Package, where Rs 30,945 crore is credited in accounts of women PMJDY account holders, PM Kisan Samman Nidhi Scheme, where 3 crore women beneficiaries collectively received over Rs 53,600 crore; the Sukanya Samriddhi Yojana, a scheme launched to help parents meet girl child education and marriage expenses (Account Opened: 3.10 crore, Amount Saved: Rs 1,75,008 crore); and the Mahila Samman Savings Certificate-Savings, a scheme launched in 2023 exclusively for women investors for promoting their financial inclusion.

This was followed by another scheme to encourage rural women to be financially empowered via rural microentrepreneurship. Named the Mukhya Mantri Mahila Udyamita Abhiyan, its goal is to enable women to be lakhpati, popularly called Lakhpati Baideu, whereby women can have earnings in lakhs through revenue generating entrepreneurship ventures. The model moves through the self-help groups (SHGs) that exist in rural areas where hundreds of women are members. In the case of Assam, 40 lakh women SHG members are being offered financial assistance of Rs 35,000 to help them start micro-enterprises and achieve an annual income of Rs 1 lakh and more. Today, Assam has created 8.72 lakh (2022-23) lakhpati baideus, with Nagaon having the highest number (95570) lakhpati baideu, followed by Cachar (57293) and Tinsukia (56390). This one scheme has been able to catalyse economic empowerment and financial independence among women in rural areas. These Lakhpati Baideus are now not only financially stable and self-sufficient themselves, but they are also serving as role models and a symbol of energetic, empowered entrepreneurial women who have a sustainable, successful livelihood. They are setting examples in rural communities by encouraging many more women to start something of their own. Chief Minister Himanta Biswa Sarma has kept a provision of Rs 4000 crore for creating Lakhpati Baideu across Assam, as Prime Minister Narendra Modi envisaged building two crore Lakhpati Didis across the rural landscape of our country.

From the records of the last 10 years of successful women’s policies, we can well visualise how this will create an impact in the long run, apart from the short-term benefits. As these Lakhpati Baideus start ventures and earn, their households have started to experience an increase in income, which directly contributes to poverty alleviation while reducing vulnerability to economic shocks. An increased income means higher levels of disposable income, increased savings, which will definitely drive consumption patterns and stimulate economic activity. With the extra income they further invest, it will indirectly generate economic growth, productivity, and progress. Otherwise too, as more Lakhpati Baideu increasingly works and earns, they contribute directly to our GDP growth, both at the state and national level.

It is seen that, in general, women’s participation in the workforce usually helps dismantle barriers to women’s advancement and promote a more inclusive and equitable society. Today, each of the Lakhpati Baideu has access to a bank account, access to funds, knows how to make their business plan, is geared up to start and run their own business, and is gaining financial literacy along with being financially independent. They don’t have to seek money from family, friends, or moneylenders to start something of their own. The government is holding them back from progress.

Who knows, in the coming times, these Lakhpati Baideus may play a vital role in driving innovation and creating more employment opportunities as they themselves become more skilled, more knowledgeable, more entrepreneurial, and more confident.

The gender gap in India will surely see a fast reduction with the increasing equality being driven by financially empowered rural women.