As preparations gather pace for the Union Budget 2026, the government is reportedly weighing a fresh set of women-focused financial measures aimed at deepening credit access, expanding insurance coverage and pushing India closer to universal financial inclusion. 

Citing officials familiar with the discussions, Times of India reported that the thrust is likely to be on strengthening existing schemes rather than rolling out entirely new programmes, with Jan Dhan accounts emerging as the central delivery platform.

The thinking aligns with the government’s broader objective of improving the effectiveness of social security-linked financial products, while ensuring that women, particularly in rural and semi-urban India, are better integrated into the formal financial system.

Credit and insurance via Jan Dhan at the core

At the heart of the Budget 2026 discussions is a proposal to enhance the role of Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts in delivering credit and insurance benefits to women. 

The idea is to use the widespread Jan Dhan network to improve access to formal finance, especially for women who remain underserved by traditional banking channels.

Alongside credit, the government is also examining suggestions to widen the scope of the Jan Suraksha schemes and offer policyholders greater flexibility to enhance their insurance cover. 

These schemes are seen as critical tools in expanding low-cost insurance penetration among women, many of whom continue to rely on informal safety nets.

Tailor-made products for women borrowers

The media agency reported that the proposals under consideration include customised credit cards, loan products and insurance offerings designed specifically for women. 

These products are expected to build on steps announced in the FY26 Budget, such as the introduction of the Grameen Credit Score and targeted credit support for first-time entrepreneurs.

“Measures to support the credit requirements of rural enterprises and self-help groups (SHGs) are also being actively considered,” ET reported quoting an official.

Such initiatives are intended to make formal finance more responsive to the needs of women-led enterprises and SHGs, which play a vital role in rural livelihoods and local economic activity.

Reviving inactive Jan Dhan accounts

The Niti Aayog is also evaluating the Pradhan Mantri Jan Dhan Yojana with a specific focus on reactivating dormant accounts. Officials say a significant number of Jan Dhan accounts remain inactive, limiting their usefulness as channels for credit, insurance and direct benefit transfers.

The current exercise aims to encourage account holders to keep their accounts active by improving access to credit facilities and insurance products linked to these accounts.

“This is being pursued with an aim at achieving 100 per cent saturation,” another official said.

According to officials, deeper credit inclusion and addressing financial literacy gaps among Jan Dhan account holders are essential to strengthening India’s digital economy.

Linking financial inclusion to Viksit Bharat goals

The ongoing review of PMJDY is also intended to align the flagship financial inclusion programme with the government’s long-term vision of Viksit Bharat, making India a developed country by 2047. 

Policymakers believe that empowering women financially is central to achieving this goal, given their growing participation in entrepreneurship, self-help groups and the workforce.

Officials argue that improving access to formal credit and insurance can help women-led households manage income volatility, invest in education and healthcare, and build long-term financial resilience.

Focus on consumer protection and trust

Apart from expanding access, the Budget 2026 may also place emphasis on improving consumer trust in financial products. “Customer-orientated initiatives like continued emphasis on returning unclaimed funds and addressing insurance claim grievances through more robust regulatory supervision may also find mention in the budget announcement,” the report added citing another official.

Such steps are seen as essential to ensuring that women not only enter the formal financial system but remain engaged with it over time.

What to watch in Budget 2026

While final decisions will only be clear when the Budget is presented, the direction of discussions suggests continuity rather than disruption. By strengthening Jan Dhan-linked credit and insurance, widening the Jan Suraksha safety net, and reviving inactive accounts, the government appears keen to sharpen the impact of existing schemes.

If implemented, these measures could mark another step towards closing gender gaps in financial access, a goal that policymakers increasingly view as critical to inclusive and sustainable growth.