According to an analysis conducted by Soumya Kanti Ghosh, the Group Chief Economic Adviser at the State Bank of India (SBI), the incomes of female SHG members have more than tripled over the past five years. Ghosh's report, released on March 11, highlighted that the COVID-19 pandemic provided opportunities for SHGs to substantially increase their activities.
The study revealed that the average income credited to female SHG members' bank accounts is set to rise from Rs 100 to Rs 307 based on data available for the first nine months of 2023-24. Notably, urban SHG members are projected to experience the most significant income increase, with their earnings potentially reaching Rs 462 from Rs 100 in 2018-19. Similarly, rural SHG members have also witnessed a considerable rise in their incomes, with 65 percent of them moving into higher income quantiles in the fiscal year 2023-24 compared to 2018-19.
Ghosh emphasized the correlation between the increase in rural female LFPR and the rise in incomes of female SHG members. He noted that an 11 percent jump in LFPR was associated with a 2.25 times increase in income within just four years.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Zirakpur reports 22 dengue and 14 malaria cases in one week
Around 100 patients are coming to the mohalla clinic of Baltana every day. Out of these, 20 to 25 patients are suffering from viral fever. Apart from this, 4 patients have been diagnosed with typhoid and one patient with dengue.
Jagdeep and Jasveer Kaur won medals
Jagdeep Singh and Jasvir Kaur Dhillon from the Derabassi constituency have made a mark in the ongoing Khedan Watan Punjab Ki by excelling in the district-level competitions.
Mita Rajivlochan joins Swachhata Hi seva 2024 at Khalsa college
All activities related to the Swachhata Hi Seva campaign will be mandatorily documented and shared on the My Bharat portal by the concerned National Service Scheme (NSS) programme officers.
Eye Donor Yashpal Gupta's Family Honored by Lions Club
Lions Club General Secretary Sanant Bhardwaj highlighted that the organization has so far facilitated the eye donation of seven people, restoring vision to 14 individuals in need.
Rivaaj Jewelers opens First Zirakpur outlet
Rivaaj Jewelers opened its first showroom in Shivalik Vihar, Zirakpur, on Saturday, marking the brand's expansion into the Tricity area.
Railway ticket-checking team reunites missing girls with families
A railway ticket-checking team displayed remarkable dedication by reuniting four missing minor girls with their families.
PUCA seeks extension from Supreme Court for technical college admissions deadline
Sharma pointed out that, despite AICTE's September 15 cut-off, lakhs of seats remain vacant across approximately 8,000 technical colleges in India, with many applicants unable to secure admission due to the closure.
Punjab Mid-Day Meal Society implements new data entry guidelines for schools
The Punjab Mid-Day Meal Society has issued a directive to all District Education Officers (Elementary and Secondary), emphasising the importance of timely data entry on the e-Punjab app under the Mid-Day Meal Scheme, now known as PM Poshan.
Former student leader accuses jail administration of misbehaviour
He said that if there is any physical harm to him due to non-treatment of his eyes, then the jail administration will be responsible.
Police register case following ammonia gas leak at ice factory
In Jalandhar, police have registered a case concerning an ammonia gas leak at Jain Ice Factory.
