Nine states bet $18 billion on women's empowerment: Goldman Sachs

Nine Indian states with ongoing or proposed cash transfer schemes for women have collectively allocated $18 billion in their 2024-25 Budget Estimates, amounting to 0.5 per cent of India’s gross domestic product (GDP) for the same financial year, according to research by Goldman Sachs.

 

Cash transfer schemes have emerged as a powerful strategy for ruling state governments to attract women voters, often influencing election outcomes. These initiatives played a pivotal role in the recent electoral sweep by the Bharatiya Janata Party-led Mahayuti alliance in Maharashtra. 

 

Among these schemes is Maharashtra’s Ladki Bahin Yojana, launched by chief minister Eknath Shinde in 2023. It provides Rs 1,500 per month to eligible women aged 21–60 with annual household incomes below Rs 3 lakh. Maharashtra leads in budgetary allocation for such schemes, earmarking $5.4 billion, or 1.1 per cent of its gross state domestic product (GSDP). 

Karnataka follows with an allocation of $3.6 billion (1 per cent of its GSDP) for a scheme introduced in 2023. Haryana has proposed $2.5 billion, while Madhya Pradesh has allocated $2.2 billion. At the lower end, Delhi has set aside $200 million for its scheme, which provides Rs 1,000 per month to women aged 18 and above.