MUMBAI: The Maharashtra government has transferred Rs 17,505.90 crore into the bank accounts of 2.38 crore women beneficiaries under its Ladki Bahin Yojana until December 2024, in the first five months after the scheme was launched. This was mentioned in the government’s pre-Budget Economic Survey, which was tabled in the legislative assembly on Friday.

The ‘Mukhyamantri Majhi Ladki Bahin Yojana,’ the flagship scheme of the previous Eknath Shinde-led government, was formally launched in August last year. 

Under the scheme, eligible women receive financial assistance of Rs 1,500 per month through direct benefit transfer. In total, 2.38 crore women have benefited from the scheme, with an expenditure of Rs 17,505.90 crore incurred up to December 2024, according to the Economic Survey report. 

The objective of the scheme is to promote employment and economic development by providing adequate facilities to women and girls in the age group of 21 to 65 years. It also aims to rehabilitate women economically and socially, helping them become self-reliant. Additionally, the scheme strives to empower women and girls and improve the health and nutritional status of women and children dependent on them.

The Ladki Bahin scheme was touted as one of the primary reasons for the Mahayuti alliance’s resounding victory in the November 2024 assembly elections. The ruling alliance of the BJP, Shiv Sena, and NCP won 230 seats in the 288-member assembly. During the election campaign, Mahayuti leaders promised to increase the monthly aid under the Ladki Bahin scheme from Rs 1,500 to Rs 2,100.

However, the scheme has faced criticism from the Opposition regarding its financial viability, particularly in a state where the fiscal deficit has reached Rs 2 lakh crore.

The Economic Survey also noted that as of March 2024, there were 16,30,589 self-help groups (SHGs) in Maharashtra with accounts in cooperative banks, regional rural banks, and both public and private commercial banks. Out of these, 13,80,838 SHGs (85 percent) are exclusively for women.

In 2024-25, until December 2024, women’s SHGs received loans totaling Rs 10,475.48 crore from various financial institutions, with total internal loans disbursed amounting to Rs 3,779 crore. The total cumulative savings of women’s SHGs stood at Rs 1,404 crore, the report stated.