Over 1.4 lakh register on day one as Delhi launches Laxmi Yojana for women

The newly launched Laxmi Yojana in Delhi has received an overwhelming response from residents, with a staggering 147,215 women registering within just 24 hours of the portal going live. Designed to empower women financially, the scheme promises a monthly benefit of ₹2500. However, instead of a simple cash transfer, the initiative features a unique savings model to promote long-term financial discipline.

How the payout structure works
Rather than depositing the entire ₹2500 directly into bank accounts, the Delhi government has structured the assistance to offer both immediate relief and future security. Each month, beneficiaries will receive ₹1000 as a direct bank transfer for daily expenses. The remaining ₹1500 will be automatically redirected into a Fixed Deposit (FD) in the beneficiary's name. This fixed deposit will come with a mandatory three-year lock-in period.

According to Delhi Chief Minister Rekha Gupta, this dual-benefit structure is intended to address both immediate household requirements and guarantee a degree of long-term financial independence. The registration drive for this ambitious project officially commenced on August 1, 2024.

A massive budget for women's welfare
The Delhi government has allocated a substantial budget of ₹5100 crore for the current financial year to fund the scheme. The administration estimates that up to 17 lakh women across the state will benefit from this financial support system.

Strict eligibility criteria and exclusions
To ensure that the financial aid reaches those who need it most, the government has set strict eligibility criteria. Applicants must be between 21 and 60 years of age, and their annual household income must not exceed ₹2.5 lakh.

Certain groups are strictly excluded from participating in the Laxmi Yojana. Women who already receive financial aid from other government welfare schemes are ineligible. Furthermore, the scheme is not open to income tax payers, government employees, or families where a member is employed in government service. Households that own a car are also excluded, as are applicants with more than three children or those with a criminal record.

Application verification process
Adding another layer of vetting, applicants are required to submit a letter of recommendation from their local MLA or MP along with their application. The government has clarified that a rigorous verification process will be conducted before any applicant is officially approved for the monthly payout. The Laxmi Yojana was one of the key promises featured in the BJP's election manifesto.