Delhi Lakshmi Yojana: Women will receive Rs 30,000 annually in their accounts; apply from August 1..

The government periodically launches various schemes to empower women financially. Now, the Delhi government has also made a major announcement for women. Under the 'Delhi Lakshmi Yojana,' eligible women will receive financial assistance of ₹2,500 per month, amounting to ₹30,000 annually. The government believes this amount will help women manage household expenses, meet their personal needs, and save for the future. Online applications for this scheme will begin on August 1st, and the government has allocated a budget of ₹5,110 crore for it.

Chief Minister Rekha Gupta stated that the government has approved this scheme in fulfillment of its election promise. The scheme aims to extend benefits to approximately 17 lakh women by Raksha Bandhan. Notably, the scheme is not limited to mere financial assistance; it also encourages women to save and invest, thereby strengthening their future financial stability.

Who can apply?
Women aged between 21 and 60 years can avail the benefits of this scheme. The annual income of the applicant's family must be less than ₹2.5 lakh. Only one woman per family can benefit from the scheme; if there are multiple eligible women in a family, priority will be given to the eldest among them. Additionally, the woman—or her husband or parents—must have been residing in Delhi for at least 10 years. No family member should be an income tax or GST payer.

Which women will not receive the benefit?

Certain conditions exclude some women from the scope of this scheme:
Women with more than three children cannot apply.
Families with an annual electricity consumption exceeding 2,400 units are ineligible.
Families owning a four-wheeler, or women already receiving regular financial assistance under another government scheme, will not benefit from this scheme.
Government employees, families receiving government pensions, income tax or GST-paying families, and women with a criminal record are also ineligible for this scheme. Funds to be received in two ways

The government has offered women two options to avail of the benefits. Under the first option, out of the monthly sum of ₹2,500, ₹1,500 will be deposited into a Recurring Deposit (RD) or Fixed Deposit (FD), while ₹1,000 will be credited to a CBDC digital wallet. CBDC stands for Central Bank Digital Currency; it is an app developed by the RBI, through which funds will be received in the form of digital currency.
Under the second option, a woman may choose to deposit the entire ₹2,500 into an RD or FD. This deposited amount will be subject to a three-year lock-in period, meaning the funds—along with accrued interest—can only be withdrawn after the completion of three years. The government believes this will foster a habit of saving and investing among women.

Where can the digital wallet funds be spent?
The amount credited to the CBDC digital wallet can only be used for essential goods and services specified by the government. These funds cannot be used to purchase items such as alcohol, tobacco, narcotics, lottery tickets, or for gambling. The digital wallet will operate via a mobile app, making it easier to track expenses.

What is the application process?
Online applications for the scheme will be accepted starting August 1st. The government has stated that the application process will be kept simple to ensure that the maximum number of eligible women can benefit from it. A separate mechanism will also be established to address grievances. The government maintains that this scheme is a significant step towards providing financial assistance to women while also encouraging savings and strengthening their financial independence.

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