Ladli Behna Yojana Set For A Boost With Rs 3,000 Monthly Installment On The Horizon: SBI Report

The Ladli Behna Yojana, the flagship welfare scheme championed by the Bharatiya Janata Party (BJP)-led state government in Madhya Pradesh, might see an increase in its monthly instalment, soaring to Rs 3,000, according to a groundbreaking Special Research Report by the Economic Department of the State Bank of India (SBI).

Initially designed to foster financial empowerment and self-reliance among women in Madhya Pradesh, the Ladli Behna Yojana began by providing Rs 1,000 per month to eligible beneficiaries. Encouragingly, this instalment was later increased to Rs 1,250 per month, reflecting the success and impact of the initiative.

The Special Research Report by the Economic Department of the State Bank of India (SBI) reveals that approximately 94% of Ladli Behna Scheme beneficiaries in Madhya Pradesh are aged 25 and above. Among them, 60% fall within the 35-and-above age group, while 36% belong to the 25-35 age bracket.

The report sheds light on the scheme's growing influence beyond Madhya Pradesh's borders. Around 1% of Ladli Behna beneficiaries are spending their stipends in other states, turning them into Ladli ambassadors in states like Bihar, Chhattisgarh, Delhi, Gujarat, Haryana, Jharkhand, Maharashtra, Odisha, Rajasthan, Uttar Pradesh, and West Bengal.

"Ladli ambassadors are now settled in the states of Bihar, Chhattisgarh, Delhi, Gujarat, Haryana, Jharkhand, Maharashtra, Odisha, Rajasthan, Uttar Pradesh, West Bengal and are thus a partner in the growth story of these states," the report highlighted.

A comparative analysis with the Pradhan Mantri Jan Dhan Yojana (PMJDY) depositors states that Ladli Behna recipients, especially those with PMJDY accounts, exhibit significant spending patterns, with an average increase of approximately Rs 9,302 at merchant outlets.

Interestingly, the report establishes a correlation between Ladli Behna's success and electoral outcomes. For every 1% increase in Ladli Behna recipients, the incumbent party's electoral success rate increased by 0.36%. In districts with high empowerment rates through Ladli Behna, the 2023 elections witnessed overwhelming victories for the ruling party.

"A 1% increase in the empowerment of marginalized women in a district through Ladli Behna has resulted in a 0.04% increase in additional female voter turnout in 2023 in a district (in comparison to female voter turnout in 2018). Juxtaposing this, it has been estimated that around 70% (around 3.67 lakh) of additional female voters (around 5.25 lakh) in 2023 elections voted are primarily attributable to the Ladli Behna scheme," the report states.

Candidates in constituencies with less than 10,000 margin votes, including Shajapur, Mandhata, Gunnaor, Sohagpur, Surkhi, Jawad, Gurh, Gwalior South, Sewda, Lanji, Karera, Dhauhani, Alirajpur, Teonthar, Mungaoli, Badwah, Shahpura, Petlawad, Rajnagar, Maheshwar, Chhatarpur, Mauganj, Ashta, and Sablagadh, have seen success supported by increased female voter turnout due to the Ladli Behna scheme.

Approximately 1.25 crore eligible women, constituting 30% of Madhya Pradesh's female population, have reaped the benefits of the Ladli Behna scheme. The government has disbursed a substantial Rs 2,418 crore, with expectations of further outreach and positive impact, as indicated in the report.

The Ladli Behna Yojana's potential increase to a Rs 3,000 monthly instalment is poised to make a considerable difference in the lives of women in Madhya Pradesh, marking financial empowerment and gender inclusivity.