India’s Women Gear Up for Budget Day, Hoping for Policies that Drive Growth and Equality

India's upcoming interim budget on February 1 is highly anticipated, especially by the nation's women. With the general elections looming, the government is expected to unveil policies that empower women and boost their participation in the economy.

Financial Support for Female Farmers

One of the most anticipated announcements is a potential doubling of the annual payout to landowning women. This move, estimated to cost the government an additional $1.44 billion, could resonate with female voters and provide much-needed financial support to a crucial segment of the population.

Boosting Women Entrepreneurship

The budget is also expected to focus on supporting women entrepreneurs, particularly in smaller cities. Schemes like Pradhan Mantri Mudra Yojana and women entrepreneurship platforms have already been helpful, but there is a demand for greater mentorship and networking opportunities.

Increasing Female Labor Force Participation

India's female labour force participation rate currently stands at 24%, contributing about 17% to the GDP. The government is expected to announce a 25% increase in allocation towards women-centric schemes compared to 2023, aiming to drive up these numbers and ensure greater inclusion of women in the workforce.

A Budget for Gender Equality

India's women have high hopes for the upcoming budget, seeing it as an opportunity to kickstart a revolution in gender budgeting. Empowering women is not just about social justice; it is also about unlocking their full potential and making them equal stakeholders in India's growth story.

February 1 budget will be closely watched not only by India's women but also by policymakers and economists around the world. It has the potential to set a precedent for gender-inclusive budgeting and pave the way for a more equitable and prosperous future for India.