Delhi Lakshmi Yojana: ₹2,500 Monthly Assistance Routed to Fixed Deposits Until January 2027

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Only 53 women have received money in their Central Bank Digital Currency wallets under the Delhi government’s Lakshmi Yojana, nearly three months after the flagship scheme’s launch. According to official sources, fixed deposits have been created in the names of 4,488 beneficiaries, taking the total number of beneficiaries for whom payments have been processed to 4,541. With the CBDC-based payment mechanism running into technical and operational hurdles, the Delhi government has now decided to deposit the entire monthly assistance of ₹2,500 in fixed deposits until January 2027, instead of splitting the amount between CBDC wallets and FDs, according to a response from a Delhi government spokesperson.

The scheme, one of the BJP’s key promises during last year’s Delhi Assembly elections, was launched on August 26, with the first payments scheduled to begin on September 1. It provides eligible women from low-income households with financial assistance of ₹2,500 a month. Under the scheme, notified by the Women and Child Development Department in August, beneficiaries can choose between two payment options. Under the first, ₹1,000 is credited every month to a CBDC wallet linked to the beneficiary’s bank account, while ₹1,500 is deposited in a recurring or fixed deposit account. Under the second, the entire ₹2,500 is deposited in an RD or FD account, subject to a lock-in period until July 31, 2029. Multiple sources in the WCD Department and the Revenue Department confirmed that technical issues have delayed the transfer of money to beneficiaries’ digital wallets. Beneficiaries across five districts also confirmed that despite having opened digital wallets linked to their bank accounts, they had not received any amount in them.

According to figures shared by the government, 231 applications approved in August were credited in September, including 53 through CBDC wallets. Another 4,257 applications approved in September were credited in October, with the entire ₹2,500 deposited in FDs, as the CBDC route faced hurdles. 34,786 fresh applications were digitally approved last month, with sanction orders expected to be issued by Friday, and the entire ₹2,500 for these beneficiaries to be deposited in FDs. Over these three months, the government has approved a total of 39,274 applications. The government also acknowledged that the earlier tendering process for engaging a Project Management Unit for the scheme could not be successfully concluded. The department is now undertaking a fresh tendering process, it said. In the interim, scrutiny, verification and approval of applications are continuing at various levels, with the assistance of Anganwadi workers wherever required. Additional manpower is also being engaged temporarily to expedite the process until the PMU is finalised and becomes operational.

What is the legal basis for Delhi's direct cash transfer schemes?

The Delhi government frames direct benefit transfer schemes for women using its executive powers under Article 239AA of the Constitution. Delhi's executive power extends to matters on which the Delhi Legislative Assembly can make laws. Financial provision for such schemes is made in the annual budget passed by the Delhi Legislative Assembly. The Lakshmi Yojana follows a model seen in earlier income-support programmes like the Ladli Scheme launched in 2008 for the girl child, and the old-age pension scheme administered by the Social Welfare Department. The use of Central Bank Digital Currency wallets in this scheme is part of the Reserve Bank of India's pilot project for the digital rupee, which began in December 2022 for the retail segment. The Anganwadi workers mentioned in the verification process operate under the Integrated Child Development Services scheme, a centrally sponsored programme launched in 1975.

What are the two payment options under the scheme?

The scheme, notified by the Women and Child Development Department in August, offers two payment options. Under the first, ₹1,000 is credited every month to a CBDC wallet linked to the beneficiary’s bank account, while ₹1,500 is deposited in a recurring or fixed deposit account. Under the second, the entire ₹2,500 is deposited in an RD or FD account, subject to a lock-in period until July 31, 2029.

What has the government done to address the delays?

The government decided to deposit the entire monthly assistance of ₹2,500 in fixed deposits until January 2027, instead of splitting the amount between CBDC wallets and FDs. The earlier tendering process for engaging a Project Management Unit could not be successfully concluded, and the department is now undertaking a fresh tendering process. In the interim, scrutiny, verification and approval of applications are continuing with the assistance of Anganwadi workers wherever required, and additional manpower is being engaged temporarily to expedite the process until the PMU is finalised and becomes operational.