A major update has emerged regarding the Delhi government’s Lakshmi Yojana. A new system has been devised for utilizing the ₹2,500 monthly financial assistance provided to women under the scheme. According to this arrangement, beneficiary women will be permitted to withdraw only ₹1,000 from the monthly amount, while the remaining ₹1,500 will be mandatorily deposited into a Recurring Deposit (RD) account. The objective of this system is to cultivate a habit of regular saving among the beneficiaries and strengthen their long-term financial security. The funds accumulated in the RD account will eventually become available as a substantial saving, thereby empowering the women financially to meet future needs.
According to a senior official associated with the scheme, the Recurring Deposit (RD) accounts opened for the beneficiaries will have a three-year ‘lock-in’ period. The official stated that upon the completion of the lock-in period, the entire accumulated amount in the RD account, along with the accrued interest, will be transferred to the beneficiary’s bank account. The government aims to encourage regular saving habits among women and enhance their financial security for the future. Through this system, women will benefit from both immediate financial assistance and long-term savings, ensuring they have a secure financial cushion available when needed in the future.
Proposal to be tabled at the next cabinet meeting
The Delhi government’s proposed Lakshmi Yojana may soon receive approval. The eligibility criteria for this scheme—formerly known as the ‘Mahila Samriddhi Yojana’—have recently been finalized. According to a senior official, the proposal will first be placed before the Delhi Cabinet. Once cabinet approval is secured, it will be sent to the Lieutenant Governor (LG) for consent. Following the LG’s approval, a notification regarding the scheme will be issued, paving the way for its formal implementation.
The official mentioned that the government is working towards launching the Lakshmi Yojana around the time of Raksha Bandhan. It is likely that the proposal for the scheme will be presented at the next cabinet meeting. The government has also developed an online portal for the effective implementation of the scheme. Through this portal, eligible women will be able to apply, and other procedures related to the scheme will be completed.
Find out which women will receive the monthly benefit
Applicants must submit a self-declaration stating that they have been residents of Delhi for at least 10 years and have no criminal record. To verify eligibility, applicants will also need to submit documents such as their Aadhaar card, Voter ID, and necessary records regarding family members. Under the proposed rules, only one woman per family, aged between 21 and 60, will be eligible for the scheme’s benefits. If more than one woman in a family is found eligible, the monthly financial assistance will be granted to the eldest woman.
Families with a criminal record will not receive benefits
Several key eligibility criteria have emerged for the Delhi government’s proposed ‘Lakshmi’ scheme. According to an official associated with the scheme, if any family member of an applicant has a criminal record, that family will not be eligible for the benefits. However, the scheme still requires approval from the Cabinet and the Lieutenant Governor before these provisions are implemented. The official stated that benefits would be restricted to families with a total annual income of less than ₹2.5 lakh. Additionally, the applicant must not be a pensioner. Under the proposed criteria, government employees, income taxpayers, and women who own a four-wheeler will also be ineligible for the scheme. The government aims to extend the scheme’s benefits to women who are in financial need.
