Dhanlaxmi Yojana

Understand how Dhanlaxmi Yojana is helping girl child.
Dhanlaxmi Yojana
4 mins
22 March 2024

The Dhanalakshmi Scheme, started on March 3, 2008, by the Indian government, is a program to help girls. It gives money and insurance to families with a girl child. The goal is to stop child marriages by offering parents insurance cover and encouraging them to educate their daughters. The aim is to emphasise that girls are important and shouldn't be seen as a burden.

Objectives of this scheme

  • Promote a societal mindset that recognises the value of girl children, emphasising their value rather than perceiving them as burdens.
  • Encourage the enrolment of girls in schools, ensuring their continuous education up to at least the 8th grade.
  • Address the issue of female infanticide by providing insurance coverage for new-born girls.
  • Challenge and diminish the negative stigma associated with the birth of a girl, highlighting her equal importance as a family member.
  • Facilitate girls' access to job opportunities by promoting their education, paving the way for a potentially fulfilling future.

Securing a bright future for a girl child includes financial planning. Fixed deposits (FDs) provide a safe and reliable way to grow savings over time. Consider opening an FD in your daughter's name to support her educational expenses or any other future goals.

Benefits of the scheme

  • Any girl born after November 8th, 2008, and enrolled in the program under government supervision received an initial amount of Rs. 5,000.
  • An incentive of Rs. 1,250 was given for immunising female infants between 6 weeks and 24 months.
  • The program covered the expenses of a girl child's education, from enrollment to completion of the eighth grade. Parents were given a Rs. 1,000 incentive for enrolling their children in school. For grades 1 to 5, parents received an annual incentive of Rs. 500. Additionally, a Rs. 750 monetary incentive was provided each year for the girl's secondary school education. A total of Rs. 5,750 was offered as a financial encouragement for the girl child's education up to the 8th grade. To discourage child marriage, the program offered parents a Rs.1 lakh insurance cover when their daughter reached 18 and remained unmarried.

Dhanalakshmi Scheme eligibility

  • Any girl child born post November 8th, 2008
  • The girl child must be a part of immunisation program
  • The girl child should be a resident of India

Implementation of the Dhanalakshmi Yojana

The Dhanalakshmi Scheme was launched as a pilot project that covered the states most cases of female infanticide and child marriages. The government implemented this scheme in specific blocks in the identified states that suffered from adverse Child Sex Ratio (CSR) compared to other parts of the country. They implemented this scheme in the following 7 states: Punjab, Bihar, Uttar Pradesh, Chhattisgarh, Jharkhand, Odisha, Andhra Pradesh

Other girl child related scheme in India

  • Beti Bachao, Beti Padhao
  • Sukanya Samriddhi Yojana 
  • Ladli Laxmi Yojana
  • Balika Samridhhi Yojana

Conclusion

Dhanalakshmi Scheme, initiated in 2008, aimed to combat gender discrimination and promote the welfare of girls. The scheme's objectives focused on changing societal mindsets and addressing critical issues. While the Dhanalakshmi Scheme is no longer operational, other initiatives like Beti Bachao, Beti Padhao, and Sukanya Samriddhi Yojana continue to contribute to empowering girls in India.

Frequently asked questions

Where will the money be sent under the plan?

Money will be directly sent to the beneficiary woman's bank account. 

What loan will be provided with this plan?

Loan of Rs. 5 lakh would be given for 30 years at no interest. 

When is the recipient eligible for the Dhanlaxmi Yojana's insurance maturity cover?

When a girl is 18 and not married, she gets the insurance money.

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Disclaimer

As regards deposit taking activity of Bajaj Finance Ltd (BFL), the viewers may refer to the advertisement in the Indian Express (Mumbai Edition) and Loksatta (Pune Edition) furnished in the application form for soliciting public deposits or refer https://www.bajajfinserv.in/fixed-deposit-archives
The company is having a valid Certificate of Registration dated March 5, 1998 issued by the Reserve Bank of India under section 45 IA of the Reserve Bank of India Act, 1934. However, the RBI does not accept any responsibility or guarantee about the present position as to the financial soundness of the company or for the correctness of any of the statements or representations made or opinions expressed by the company and for repayment of deposits/discharge of the liabilities by the company.

For the FD calculator the actual returns may vary slightly if the Fixed Deposit tenure includes a leap year.