Dharmasthala Rural Development Project has become lifeline of villages, says Nirmala Sitharaman

Belthangady: Union Finance Minister Nirmala Sitharaman praised the Sri Kshetra Dharmasthala Rural Development Project (SKDRDP) for empowering women and providing self-employment opportunities in Karnataka’s rural regions.

At an event in Dharmasthala on November 14, she lauded the project as a model for the entire nation, stating that the government often studies Dharmasthala’s initiatives before launching new rural schemes.

Addressing a gathering at Amritavarshini Hall, Sitharaman distributed Rs. 600 crore in dividends to self-help group (SHG) members associated with SKDRDP, which is administered by the B. C. Trust. “The rural development efforts led by Dharmasthala have created economic stability and discipline under the leadership of Dr. Veerendra Heggade, whose initiatives have been acknowledged nationally. Prime Minister Narendra Modi himself recognized these efforts by nominating Dr. Heggade to the Rajya Sabha,” she remarked.

Committed to Financial Empowerment of Women: Dr. Veerendra Heggade

Presiding over the event, Dr. Veerendra Heggade, the Dharmadhikari of Dharmasthala, emphasized SKDRDP’s commitment to women’s empowerment, mentioning that out of the 55 lakh SHG members, 62% are women. “Nirmala Sitharaman is the Finance Minister of India, but we have made every rural woman a financial leader in her household through our project,” Heggade said. He added that the scale of dividends disbursed to such a large group is unprecedented globally.

Potential for Expansion Across India

Shaji K.V., Chairman of NABARD, highlighted the impact of SKDRDP, noting that since its inception in collaboration with NABARD in 1982, it now reaches 80% of rural India. The project also partners with RUDSET for skill development, operating 575 RUDSET Centers (RCTs) nationwide to enhance rural livelihoods. “This model can be expanded to other states as well,” he noted with pride.

Four Decades of Financial Discipline in Rural Savings

SKDRDP CEO Anil Kumar S.S. provided an overview of the project’s impact, mentioning that the project has been promoting financial discipline and savings in rural areas for four decades. He noted that in 2021, eligible SHGs received dividends, marking the first distribution of a Rs. 600 crore dividend in the history of Indian SHGs, a practice repeated every three years.

Several dignitaries, including Hemavati V. Heggade, MP Brijesh Chowta, MLA Harish Poonja, and MLC K. Prathapsimha Nayak, attended the event. Leaders from various partner banks, as well as Dharmasthala’s Chief Financial Officer Shantharam R. Pai, were also present.

Artificial Intelligence to Drive Future of Agriculture and Rural Development

Sitharaman emphasized the role of Artificial Intelligence (AI) in India’s agricultural and urban development sectors, noting that the government’s vision for 2047 includes establishing world-class foreign universities in India to reduce overseas education costs. She stated that AI integration would enhance quality standards and market access for the agricultural sector.