Mahila Samman receives mixed opinions

Hyderabad: The new scheme Mahila Samman Saving Certificate that was announced in the Union Budget 2023-24 on Wednesday has raised mixed opinions among women.

Varsha Bhargavi, Director of Where Are The Women's Collective, said, " The Mahila Samman Saving Certificate is only given for two years at an interest rate of 7 per cent that is hardly anything and it also means that government is barely pumping income of Rs 15,000 at the end of the two years but women have blocked their money in the banks for the span of two years. What I feel that this scheme is too little and too late and I feel that there is no gender-specific in the budget this year. The majority of Indian working women belong form the unorganized sector, what I think that no woman from the unorganized sector has 2 lakh cash to put in the bank."

"This scheme will help women in all categories. Whatever interest they are getting if it is re-deposited in the account then it is beneficial. It would be better if again after two years if that tenure is completed it can be again deposited for another two years, then it will be a cherry in the top and I appreciate the Central government to implement more such schemes," said Mamata Sarkar, women activist.

Dr Lubna Sarwath, social activist, said, "This scheme Mahila Samman Saving Certificate has two dimensions that is needed to be examine. First is that whether it is answering the needs of women of India and another is that when the interest rate is been increased what are the reparations on the economy. Firstly, if the woman deposits the money for two years, she always has that options but the things that in this scheme she will have a fixed rate of interest. Despite of giving any social assistance, which is a prior need for women. What is the percentage of women has Rs 2 lakh to spare for two years? The ground reality is that necessity of women empowerment in security and education is not given importance. What I feel that this scheme is only a small token."