Independence Day Special: Key features & benefits of Sukanya Samriddhi, Mahila Samman, other schemes focused on women’s financial freedom

Independence Day Special: As India celebrates its independence, it's also crucial to acknowledge the strides made in empowering women financially. There are various government schemes that not only encourage savings and investment but also foster economic independence among women. These programs are designed to help women across the country build a secure financial future, whether through small savings plans or skill development initiatives. Here's a list of some of the key schemes dedicated to enhancing women’s financial freedom.

Post Office Mahila Samman Savings Scheme

Introduced in April 2023, the Mahila Samman Savings Certificate Scheme is a government-backed savings initiative designed exclusively for women. Known also as Mahila Samman Bachat Patra, this scheme ensures a guaranteed return, promoting women’s financial growth. Available at post offices, public sector banks, and select private banks until March 31, 2025, it offers an annual interest rate of 7.5 per cent, compounded quarterly.

Sukanya Samriddhi Yojana

The Sukanya Samriddhi Yojana is a savings scheme specifically designed to secure the financial future of girl children. Offering a lucrative interest rate of 8.2 per cent per annum along with tax benefits, this scheme allows parents or guardians to open an account for girls under 10 years of age, ensuring funds for their education, marriage, or other future needs.

Lakhpati Didi Yojana

The Lakhpati Didi Yojana, launched by the Government of India, is a skill development initiative focused on empowering women, particularly those in rural areas. Through this program, women receive technical training in various fields such as LED bulb manufacturing, plumbing, and drone repair. Women from families with an annual income of at least Rs 1 lakh are eligible to benefit from this scheme.

Mukhyamantri Mahila Samman Yojana

The Delhi government introduced the Mukhyamantri Mahila Samman Yojana in its 2024 budget as a welfare scheme for women. Under this program, every woman above 18 years of age who resides in Delhi and holds a voter ID for the National Capital Territory will receive a monthly financial aid of Rs 1,000.