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The Subhadra Yojana, a flagship initiative of the Bharatiya Janata Party (BJP) government in Odisha, was launched by Prime Minister Narendra Modi on September 17, 2024, his birthday. This ambitious scheme, named after Goddess Subhadra, sister of Lord Jagannath, aims to empower women in the state by providing them with direct financial assistance. The scheme is designed to benefit over 1 crore women aged between 21 and 60 years. Each eligible woman enrolled in the Subhadra Yojana will receive a total sum of Rs 50,000 over five years, starting from the fiscal year 2024-25. This financial aid will be disbursed in annual instalments of Rs 10,000, delivered in two equal parts directly into their Aadhaar-linked bank accounts.
The Subhadra Yojana, a pre-poll commitment of the BJP, was a key factor in the party's victory in the recent Assembly and Parliament elections. The scheme's impressive budget of Rs 55,825 crore for the upcoming five years (2024-2029) underscores the government's commitment to improving the lives of women in Odisha. The scheme has been lauded by economists for its potential to generate a multiplier effect, contributing Rs 50,000 to the economy per woman beneficiary. With a total expenditure of Rs 55,825 crore, the scheme is projected to generate benefits nearing 2.5 lakh crore for the state's economy.
The disbursement of the financial assistance under the Subhadra Yojana is designed to be convenient and accessible. The money will be transferred directly to the beneficiaries' designated Aadhaar-enabled individual bank accounts. To ensure transparency and efficiency, e-KYC verification is mandatory for all applicants. Upon approval, beneficiaries will receive a Subhadra Debit Card, facilitating seamless transactions. Further incentivizing digital transactions, the scheme offers an additional Rs 500 to the top 100 beneficiaries with the highest volume of digital transactions within each gram panchayat and urban local body region.
The Subhadra Yojana is a significant step towards empowering women in Odisha, particularly in rural areas. It aims to address financial constraints faced by women and enable them to contribute more meaningfully to their families and communities. The scheme also promotes financial inclusion by encouraging women to open bank accounts and engage in digital transactions. By providing a direct and consistent income stream, the Subhadra Yojana can help women become more financially independent and secure.
However, the success of the Subhadra Yojana relies heavily on its efficient implementation. Ensuring that the funds reach the intended beneficiaries without any leakages or corruption is paramount. The government's commitment to transparency and accountability, as well as its robust infrastructure that integrates with the JAM trinity (Jan Dhan accounts, Aadhaar numbers and mobile numbers), will play a crucial role in achieving this. With careful monitoring and evaluation, the Subhadra Yojana has the potential to become a transformative initiative for women in Odisha, contributing to their economic empowerment and social upliftment.