Assam Chief Minister Hemanta Biswa Sarma launched the Lakhpati Baideo Scheme in the state. To support rural women entrepreneurs in the state and to enable women to participate in socio-economic development, the Lakhpati Baideo Scheme has been launched. The scheme has been launched under Mukhyamantri Mahila Udyamita Abhiyan (MMUA) and aims to provide financial support to all women working in rural self-help groups in Assam. With the help of this scheme, the Assam government will provide funding to these women for starting small enterprises and also guide them to successfully run their ventures. All the women who clear the eligibility criteria can submit their application offline. Read below to check more important details about Lakhpati Baideo Scheme 2024.
What is Lakhpati Baideo Scheme 2024?
This is an entrepreneur support scheme launched by the chief minister of Assam to promote rural economies by promoting women’s entrepreneurship. The scheme was launched in January 2024 and envisages developing lakhs of women working in rural self-help groups into microentrepreneurs. Through this scheme, eligible women beneficiaries will receive financial support of INR 35,000 from the government. The financial backing will be provided to them in two phases. It is estimated that more than 39 lakh women in the Rural Self-Help Groups will benefit from this scheme and will be able to undertake small ventures on their own. The Assam government has also prepared a curated list of 145 business plans to guide beneficiaries.
Lakhpati Baideo Scheme Details in Summary
| Scheme Name | Lakhpati Baideo Scheme |
|---|---|
| State Government | Assam State Government |
| Who launched | Chief Minister Hemanta Biswa Sarma |
| Launch date | January 2024 |
| Objectives | To support women entrepreneurship in Rural economy of Assam |
| Scheme type | Financial support Scheme |
| Financial support | Up to INR 35,000 |
| Beneficiaries | About 39 lakhs women working in Rural self-help Groups |
| Application Process | Offline |
| Official Website | Not yet launched |
Objectives of Lakhpati Baideo Scheme
The Lakhpati Baideo Scheme that has been launched under Mukhyamantri Mahila Udyamita Abhiyan aims to support micro-rural entrepreneurship among lakhs of women working in self-help groups (SHGs). With the assistance from this scheme, women beneficiaries will be able to start their own small enterprise and become capable of generating income and employment. The scheme envisages to promote rural economy by enabling women citizens to undertake income- and employment-generating activities across 35 districts of Assam. The main objectives of the scheme are to promote rural entrepreneurship, support women in self-help groups, and provide impetus to the growth of rural micro-economy in Assam.
Key Features and Benefits
- Lakhpati Baideo is a state-sponsored scheme to be managed with 100% funding from the Assam state government.
- The scheme aims to promote women’s entrepreneurship in rural areas to improve the rural economy of all the districts.
- Under this scheme, a sum of INR 35,000 will be provided by the government to all the eligible women workers of Rural Self Help Groups.
- Besides, the state government will also support these women with guidance to undertake small enterprises out of 145 business plans prepared by the government.
- About 39 lakh women will have the opportunity to undertake small businesses on their own and participate in income-generating activities without financial constraint.
See Also: Nijut Moina Scheme
Budget Allocation and Coverage
The Assam state government has sidelined a hefty sum of INR 3,900 crores for the success of the Lakhpati Baideo Scheme. The amount will be expensed in supporting the beneficiaries of this scheme with microcredit to start small enterprises. The Lakhpat Baideo scheme will cover more than 39 lakhs of women who are currently working in thousands of self-help groups across 35 districts of Assam.
Financial Assistance
Under the Lakhpati Baideo Scheme, financial support will be provided in two phases. A total of INR 35,000 would be granted to eligible beneficiaries in two phases. The details are given below.
- The First Phase: Under the 1st phase of the scheme, financial assistance of INR 10,000 will be provided to each beneficiary. This much amount will be granted as the seed fund to undertake a new microbusiness initiative.
- The Second Phase: Those women entrepreneurs who emerge out successfully in their efforts will be supported with next-phase finance to further strengthen their business. Under the second phase, a total of INR 25,000 will be provided. Out of INR 25,000, Rs. 12,500 will be given as loans from banks, and the rest Rs. 12,500 will be provided by the state government.
Eligibility Criteria
- The applicant should have permanent residency in the state of Assam.
- Only women will be eligible for the scheme benefits.
- The applicant woman should be an active member of any rural self-help group promoted under ASRLM.
- Those belonging to the general and OBC categories should have a maximum of three children only.
- Applicants from ST and SC should have a maximum of four children.
- For Moran, Motok, and ‘Tea Tribes’ women, the four children cap will be applicable.
- If the applicants have a girl child, the child must be enrolled in school.
- If the girl child is not enrolled in school, the applicants are required to submit an undertaking for future enrolment.
- Applicants who participated in Amrit Brikshya Andolan must ensure that the trees planted by them are surviving.
Required Documents
The following documents will be required for the scheme.
- Duly filled application form
- Aadhar card of the applicant
- Address proof
- Email id
- Identity card
- Income certificate
- Copy of Bank account passbook
- Age certificate
- Membership Certificate of a self-help group
- Enterprise details
- Mobile number
- Passport-sized photograph
See also: Atmanirbhar Asom Abhijan 2.0
Pre-requisites of Lakhpati Baideo Scheme
- The applicant should be a working member of any rural self-help groups that are promoted under the Assam State Rural Livelihood Mission (ASRLM).
- There should be a valid and operational bank account in the applicants name.
- Further, the bank account should be Aadhar seeded and enabled for DBT transactions.
- The applicants must not have defaulted on the SHG of which she is a member or a Federation, Bank, Financial Institution, etc.
- Those female citizens who availed of a loan earlier from a microfinance institution before 2021 would not be deemed defaulters.
Application Process for Lakhpati Baideo Scheme 2024
- Applicants are required to visit the nearest camp or go to the block office of their panchayat.
- Get the application form from either of these places.
- Fill out the application form with all details correctly.
- Enclose the required documents to it.
- Submit the application form at the same place where you got it.
- Your application will be verified and approved in a few days.
Lakhpati Baideo Scheme Official Website
The state government of Assam has not yet launched the official website of the Lakhpati Baideso scheme. Once it is launched, you will receive the updates here.
Important FAQs
Which state has launched the Lakhpati Baideo Scheme 2024?
The Assam State has launched Lakhpati Baideo Yojana 2024.
What is the Lakhpati Baideo Scheme?
This is an entrepreneur support scheme that aims to provide funding to women working in rural self-help groups.
How much financial support will be provided under the scheme?
A total of INR 35,000 will be provided in two phases.
Who are eligible to apply for the scheme benefit?
All women who are active members of Rural Self Groups promoted under the Assam State Rural Livelihood Mission (ASRLM) are eligible.
How many beneficiaries will be covered under Lakhpati Baideo?
About 39 lakh beneficiaries will be covered.
How to apply for Lakhpati Baideo Scheme 2024?
The application process is online, and one can get the application form from the nearest camp.