Ladki Bahin Yojana News | SBI Sounds Alarm: Women-Centric Schemes May Drain State Coffers
A recent report by the State Bank of India (SBI) has raised concerns about the financial implications of women-centric Direct Benefit Transfer (DBT) schemes launched by various state governments. These schemes, aimed at empowering women financially, have become increasingly popular, especially during election seasons.
The SBI report warns that the total cost of these schemes across eight states has exceeded a staggering Rs 1.5 lakh crore, accounting for 3-11% of the states' revenue receipts. This has led to concerns about the strain on state finances, particularly in states like Karnataka, where the Grihalakshmi scheme costs Rs 28,608 crore annually, equivalent to 11% of the state's revenue.
Other states, such as West Bengal, have also launched similar schemes, including the Lakshmi Bhandar scheme, which costs Rs 14,400 crore annually, or 6% of the state's total revenue. While these schemes have helped make women more self-reliant, the SBI report cautions that states must consider their fiscal health and borrowing patterns before announcing such programs.
The report suggests that a universal income transfer scheme, with matching grants from the central government, could be a more sustainable alternative. This approach could also help reduce market-disrupting subsidies. The SBI has expressed concerns that if the trend of announcing DBT schemes before elections continues, it may have implications for the central government in the future.
In light of these findings, it remains to be seen how state governments will balance their commitment to empowering women with the need to maintain fiscal prudence.
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