Vol. 10, Issue 9, Part A (2024)

The Interim Union Budget 2024–25 was presented in Parliament by NDA government on Thursday, February 1, 2024. The budget's most important points are based on the slogans "Sabka Saath," "Sabka Vikas," and "Sabka Vishwas," as well as the collaborative and holistic effort of everyone, "Sabka Prayas." The 'Lakhpati Didi Scheme' has had its aim increased from 2 crore to 3 crore, according to Finance Minister Nirmala Sitharaman. The program's overarching goal is to enable women by reshaping Self-Help Groups (SHGs) into long-term, financially stable producer groups. And also Pradhan Mantri Formalisation of Micro Food Processing Enterprises Yojana has supported 2.4 lakh SHGs and 60,000 people with loan connections. The first and foremost step towards women's empowerment is achieving financial independence. An enormous stride forward for women has been the broadening of the Lakhpati Didi program. With the support of nine crore landscapes, eighty-three lakh women-led self-help groups are reshaping rural SHGs and producing one million lakhpati didis. A good step toward financial freedom. This study examines how Self-Help Groups (SHGs) and Microfinance Institutions (MFIs) affect Bhagalpur district women's socioeconomic status. The research has three main goals to empower women economically and socially. SHG and MFI economic empowerment is extensively examined in the study. The research examines financial inclusion and women-led economic activities to reveal tangible outcomes like higher income, strategic savings, and financial autonomy. The purpose is to assess these groups' grassroots economic upliftment capabilities. The study examines how SHGs and MFIs change women's life. Beyond financial indicators, the research examines education, healthcare, and well-being gains. It examines how home and community decision-making dynamics change, focusing on women's voices in community engagement. The research examines sustainability and issues. It critically evaluates SHGs and MFIs' long-term benefits. The report also identifies and analyzes problems women face in these activities. This involves an examination of financial hurdles, cultural conventions that prevent women from fully participating, and potential hazards. This comprehensive study tries to examine how SHGs and MFIs affect Bhagalpur district women's socioeconomic position. By understanding economic empowerment, social transformation, and sustainability, the findings seek to influence future plans, policies, and actions. The research aims to significantly add to regional discussions on women's empowerment and socio-economic development.