Under the Delhi goverment’s proposed Delhi Lakshmi Yojana, women beneficiaries may be allowed to withdraw only ₹1,000 of the promised ₹2,500 monthly financial assistance immediately, while the remaining ₹1,500 could be deposited in a recurring deposit (RD) account for three years, officials familiar with the proposal said on Sunday.
Event Context
The proposal, yet to receive Cabinet approval, aims to encourage long-term savings while continuing to provide monthly financial support, officials said.
“The government will deposit the full ₹2,500 into the beneficiary’s bank account every month. However, only ₹1,000 can be withdrawn immediately, while the remaining ₹1,500 will automatically be transferred to an RD account linked to the beneficiary,” a senior government official said.
The Delhi government last week finalised the eligibility criteria for the scheme and renamed the Mahia Samriddhi Yojana to the Delhi Lakshmi Yojana.
The government has also prepared the online portal and plans to test it after the scheme is notified. Officials said the portal may be made live before the formal launch so women can access information about the scheme.
The scheme is proposed to cover women aged between 21 and 60 years from families with an annual income of up to ₹2.5 lakh, provided they are not receiving any pension. The eligibility criteria also exclude women employed in government service, income-tax payers, pensioners and women who own four-wheelers. The Delhi government has earmarked around ₹5,110 crore for implementing the scheme.
The scheme was one of the Bharatiya Janata Party’s key promises ahead of the Delhi Assembly elections.
Player Focus
Only one woman aged between 21 and 60 years from each household will be eligible for the scheme. In households with more than one eligible applicant, only the eldest woman will receive the monthly assistance of ₹2,500. If the applicant or any member of her family has a criminal record, the applicant will be ineligible.
Officials said the mandatory savings component has been included to help beneficiaries build a financial cushion over time instead of spending the entire monthly assistance immediately.
Team Analysis
Under the proposed norms, applicants will have to submit a self-declaration stating that they have been residents of Delhi for at least 10 years and do not have a criminal record. They will also have to submit documents, including Aadhaar cards and voter identity cards of themselves and their family members to establish their residency.
Match Outlook
The amount accumulated in the RD account, along with the interest, will be available after the completion of the three-year lock-in period, the official added.
“The eligibility criteria will first be placed before the Cabinet for approval. Once cleared, the proposal will be sent to the Lieutenant Governor for approval, after which the scheme will be notified. Since the government plans to launch the scheme around Raksha Bandhan, the proposal is likely to be taken up at the next Cabinet meeting,” the official said.
