Odisha CM Mohan Majhi Launches Subhadra Scheme for Women’s Empowerment

Odisha CM Mohan Majhi Launches Subhadra Scheme: A Comprehensive Initiative for Women’s Empowerment

Odisha's Chief Minister Mohan Majhi has unveiled the Subhadra scheme, a groundbreaking initiative by the BJP government aimed at empowering one crore women across the state. Announced on August 24, 2024, this scheme is a key component of the state’s broader strategy to promote financial independence, enhance digital literacy, and support the socio-economic development of women in Odisha. The Subhadra scheme will span five years, from 2024 to 2029, with a substantial budget of ₹55,825 crore allocated to achieve its ambitious goals.

Key Features of the Subhadra Scheme

1. Financial Assistance: The cornerstone of the Subhadra scheme is the financial assistance provided to women aged 21 to 60 years. Each eligible beneficiary will receive a total of ₹50,000 over five years. This amount will be disbursed in five annual installments of ₹10,000 each. The payments will be divided into two installments of ₹5,000, which will be credited to the beneficiaries’ accounts on Rakhi Purnima and International Women’s Day. These dates were chosen to symbolize the protection and empowerment of women, aligning with the cultural significance of these occasions.

2. Direct Benefit Transfer (DBT): To ensure transparency and efficiency in the disbursement process, the Subhadra scheme will utilize the Aadhaar Payment Bridge System (APBS) for Direct Benefit Transfer (DBT). This system links the beneficiaries’ Aadhaar numbers with their bank accounts, enabling direct and timely payments. Additionally, each beneficiary will receive a Subhadra debit card, which will provide easy access to the funds and encourage the use of digital banking services.

3. Incentives for Digital Transactions: In a bid to promote digital literacy and financial inclusion, the Subhadra scheme includes a unique incentive program. Each year, 100 women in every gram panchayat and urban local body who record the highest number of digital transactions will be rewarded with an additional ₹500. This initiative is designed to encourage women to embrace digital payment methods, thereby increasing their participation in the formal financial sector.

Opposition and Criticism

Despite its ambitious goals, the Subhadra scheme has faced criticism from the opposition, particularly the Biju Janata Dal (BJD). The BJD has accused the BJP government of backtracking on its original election promise to provide ₹50,000 to women within two years. Instead, the scheme now extends the disbursement over five years, which the opposition claims undermines the urgency of addressing women’s financial needs. The government, however, argues that spreading the payments over five years ensures a more sustainable and impactful use of the funds, allowing beneficiaries to plan and invest in long-term financial security.

Eligibility Criteria and Exclusions

The Subhadra scheme is targeted at economically disadvantaged women, with specific eligibility criteria to ensure that the benefits reach those who need them most. Women who are government employees, income tax payees, or belong to economically privileged backgrounds are excluded from the scheme. This focus on the underprivileged is in line with the government’s broader agenda of financial inclusion and social equity.

Strategic Importance of the Subhadra Scheme

The launch of the Subhadra scheme is strategically aligned with the Reserve Bank of India’s recent emphasis on innovation in deposit mobilization. As Current Account Savings Account (CASA) deposits show a declining trend, banks are encouraged to introduce products that appeal to households looking for safe and reliable savings options. By offering the Subhadra scheme, Bandhan Bank aims to capture a larger share of household savings and strengthen its deposit base.

Furthermore, the scheme supports the state’s efforts to boost women’s participation in the economy, recognizing that financially empowered women contribute significantly to community development and economic growth. By providing a stable financial cushion and encouraging the use of digital banking services, the Subhadra scheme aims to build a more inclusive financial ecosystem in Odisha.

Odisha: A Glimpse into the State’s Socio-Cultural Fabric

• Capital: Bhubaneswar

• Chief Minister: Mohan Charan Majhi

• Governor: Raghubar Das

• Official Language: Odia

• Cultural Heritage: Odisha is renowned for its rich cultural heritage, including classical dance forms like Odissi and folk traditions such as Ghoomar. The state is also famous for its unique cuisine, which includes dishes like Dalma (a lentil-based dish), Pakhala Bhata (fermented rice), and the internationally recognized Rasgulla.

• Economy: Odisha’s economy is predominantly agricultural, with significant contributions from mining, tourism, and the service sector. The state is a leading producer of minerals and has a growing industrial base.

• Tourism: Odisha is home to several iconic tourist attractions, including the UNESCO World Heritage Site Konark Sun Temple, the Puri Jagannath Temple (a major pilgrimage site), and Chilika Lake, the largest coastal lagoon in India.

• Climate: The state experiences a tropical monsoon climate, characterized by hot summers, a monsoon season with heavy rainfall, and mild winters.

Conclusion

The Subhadra scheme represents a significant step forward in the Odisha government’s commitment to women’s empowerment and financial inclusion. By addressing the financial needs of one crore women over five years, the scheme aims to foster economic independence and digital literacy among women, thereby contributing to the state’s overall socio-economic development. As the scheme rolls out, its impact on the lives of women in Odisha will be closely monitored, with the hope that it will serve as a model for similar initiatives across India.