Union Budget 2024-25: Over ₹3 Lakh Crore Allocated to Boost Women’s Economic Empowerment

New Delhi: In a strong commitment to enhancing the role of women in economic development, the Union Budget 2024-25, presented by Union Minister for Finance & Corporate Affairs Nirmala Sitharaman, has allocated over ₹3 lakh crore for schemes benefiting women and girls. This allocation is part of a broader strategy to promote women-led development and ensure gender equity in economic opportunities.

Sitharaman highlighted the importance of women’s empowerment in the budget speech, recalling the focus on ‘Mahilayen’ (Women) in the Interim Budget as part of the four major castes: ‘Garib’ (Poor), ‘Mahilayen’ (Women), ‘Yuva’ (Youth), and ‘Annadata’ (Farmer). She emphasized the government’s determination to ensure that all Indians, irrespective of religion, caste, gender, and age, achieve their life goals and aspirations.

The Union Budget outlines several key initiatives aimed at enhancing women’s participation in the workforce and supporting their economic advancement:

• Working Women Hostels and Creches: The government plans to set up working women hostels in collaboration with industry partners and establish creches to support women in balancing work and family responsibilities.
• Women-Specific Skilling Programs: To boost employability, the budget includes provisions for organizing women-specific skilling programs, ensuring that women acquire the necessary skills to excel in various industries.
• Support for Women SHG Enterprises: The budget also focuses on promoting market access for women Self-Help Group (SHG) enterprises, helping them scale their businesses and reach broader markets.

Sitharaman’s budget speech underscored a vision for inclusive growth where women play a central role in economic development. By providing substantial financial support and creating enabling environments, the government aims to break down barriers and provide women with the tools they need to succeed.