Economic Empowerment

By : Neha Dhyani

Updated : May 19, 2022, 12:57

Economic Empowerment is one of the best ways to enable people to achieve their potential and further rights. Especially for the downtrodden and women, Economic Empowerment is imperative. It allows people to think beyond their daily and general survival needs, which allows them to become more independent in terms of their choices and way of living.

Economic Empowerment - Overview

When the assets and capabilities are improved, the freedom of choice and action follows naturally. Economic Empowerment targets these very areas and liberates people from their vulnerable states. It also plays an important role in making people realize their equal human rights. It improves livelihoods, which eventually goes on to eradicate the barriers of high and low society.

With Economic Empowerment comes to power, which gives people an entitlement to make their own decisions and not be under anyone's rule or command. It is a boon for those groups of people who are considered backwards and were historically excluded from economic rights and social equality.

Economic Empowerment for Women

Since women make up the majority of the world's poor, it becomes important to study Economic Empowerment from their perspective. If women are to become independent, then the economic exploitation of their rights must stop. They should be given sufficient accessibility to personal wealth, and with wealth comes the liberty to express and choose their lively hood.

Women are great at sustainable development; they invest more money in their children. Women who are economically empowered make significant contributions to their societies, families, and national economies. It has been seen in our post-Modern era how economically empowered women have helped their businesses and markets grow more and more. The growth and involvement of women in corporate sectors as well as in educational institutes wouldn't have been possible without Economic Empowerment.

Sukh Samridhi Yojana was launched to improve and promise education to girl children and meet their marriage expenses. This was introduced under the "Beti Bachao, Beti Padhao" campaign on January 22, 2015. This was a very significant scheme; it disallowed the exploitation of women in the name of marriage to be minimized.

Economic Empowerment - Society's less fortunate people

Economic Empowerment is very much needed for society's less fortunate people to improve their overall quality of life. Over the years, we have seen the Indian government show concern for these less fortunate people by bringing in schemes for their overall development.

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Economic Empowerment Schemes

Pradhan Mantri Jan Dhan Yojna -

The Pradhan Mantri Jan Dhan Yojna is a government scheme that was announced on the Eve of Independence Day, 2014 for the vulnerable class of society. It promises to provide access to economical services like savings, deposit accounts, remittances, credit, insurance, etc.

Rajeev Gandhi's Jeevan Daye Arogya Yojana -

In 2012, Rajeev Gandhi's Jeevan Daye Arogya Yojana was introduced as universal health care for the economically backward in Maharashtra. This was a great move by the government to secure the good health of the less fortunate class of society.

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Pradhan Mantri Jeevan Jyoti Yojna -

The Pradhan Mantri Jeevan Jyoti Yojna has also been very beneficial in terms of providing insurance of 2 lakh RS on death. Two other schemes are Pradhan Mantri Suraksha Yojna and Atal Pension. A Yojana was also launched alongside it for the same purpose.

Economic Empowerment is liberating; it liberates people from dependency and hopelessness. People get a better education by being economically well off. The literacy rate can be improved by improving people's lives economically.

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FAQs on Economic Empowerment

Q.1. Which class of the society is empowered by Economic Empowerment?

Particularly the women's class and social downtrodden classes are empowered by Economic Empowerment.

Q.2. Under which campaign Sukh Samridhi Yojana was introduced?

It was introduced Under the Beti Bachao Beti Padhao Yojana' which contributed significantly to the Economic Empowerment of women in India.

Q.3. In the context of Economic Empowerment, when was the Pradhan Mantri Jan Dhan Yojana announced?

In the context of Economic Empowerment, Pradhan Mantri Jan Dhan Yojana announced was Announced on the Eve of Independence Day.

Q.4. When was the Rajeev Gandhi Jeevan Daye Arogya Yojana introduced, keeping in mind Economic Empowerment?

Keeping in mind Economic Empowerment, Rajeev Gandhi Jeevan Daye Arogya Yojana was introduced in 2012 as universal health care for economically and socially backward people.