Union Budget 2024: What It Carries For Women?

According to Finance Minister Nirmala Sitharaman, the Union Budget 2024-25, focuses on four primary areas including Poor, Youth, Women, and Farmers. The Modi 3.0 budget was much anticipated as this is the third consecutive resource allocation under PM Narendra Modi’s leadership. The high rate of unemployment, farmers’ issues, and social security have been the major factors in deciding the Lok Sabha election results this year.

As per the estimates, India’s labor force shrank by 14% for women in last year. The overall development of women is not just about providing them economic opportunities it is also about providing an overall social, political, and economic platform for women to grow.

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To present a budget that would appease all the sections remains a challenge. However, the central government notably focused on the issue of employment, skill generation, farmers’ income generation, and social security. The Union budget 2024-25, directly and indirectly, ensured the allocation of resources to women-centric schemes and programs.

Union Budget 2024: Ensuring Women’s Participation In Development

• The government will facilitate higher participation of women in the workforce by setting up working women hostels with industrial collaborations and establishing creches.
• Model Skill Loan Scheme and e-vouchers for loans will have a special focus on women students.
• Rs 3 lakh crore for schemes benefitting women and girls have also been launched.

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• Organizing women-specific skilling programs and promoting market access for women SHGs are to address the challenges faced by women.
• Abolition of the Angel tax will augment women’s participation in the startup ecosystem. Today, over 8,000 startups are founded by women and this move will enhance the investment in the startups which is going to help women.
• Women–owned MSMEs are nearly 20.5% of the total registered MSMEs in India, so the continuation of credit support to MSME sector will help women’s workforce participation.
• Pradhan Mantri Janjatiya Unnat Gram Abhiyan will also support the tribal women and help in uplifting them.