Union Budget 2024-25: Empowering Women Through Workforce Participation
In the Union Budget 2024-25, initiatives to enhance women’s participation in the workforce took center stage. Finance Minister Nirmala Sitharaman announced a comprehensive plan including:
Childcare Facilities and Women-Specific Initiatives:
* The government will collaborate with industry to establish working women hostels to facilitate higher workforce participation.
* Creches will be established to support working mothers.
* Women-specific skilling programs and market access promotion for women’s self-help group (SHG) enterprises will be implemented.
Economic Empowerment:
* The budget allocates over Rs 3 lakh crore to schemes benefiting women and girls.
* Consideration will be given to further lowering duties on properties purchased by women.
Commitment to Women’s Development:
Finance Minister Sitharaman emphasized the Modi government’s focus on women’s empowerment, recognizing them as one of the four key ‘castes’ (alongside youth, farmers, and the poor) receiving special attention.
Progress and Empowerment:
The Economic Survey 2023-2024 highlighted the positive impact of initiatives to empower women:
* Increased access to education and skill development has elevated women’s participation in national progress.
* The female Labour Force Participation Rate (LFPR) has risen to 37% in 2022-2023, with rural India driving the trend.
* Women constitute a significant portion of beneficiaries in government schemes such as Pradhan Mantri Jan Dhan Yojana (55.6%), Pradhan Mantri Mudra Yojana (68%), Stand-Up India (77.7%), and Prime Minister’s Rural Digital Literacy Campaign (53%).
