Its Feb 1st again. And in the next half hour, the Hon'ble
@FinMinIndia @nsitharaman will shortly take stage to deliver her presentation. It's a crucial
#interimbudget - one that is eagerly awaited by all. However, some of us are anticipating it more than others.
I am talking about the archetypal
#IndianWomanProfessional - the IWP, as we refer to her at @avtarinc. Over 60 lakh women, with a combined earning potential of about Rs. 4500 crores and therefore an on-par tax contribution to the exchequer - is all geared up, waiting for this budget.
Why?
Because, the IWP is today more career-savvy, more finance-savvy, more budget-aware than before.
Because, seeing a lot of focus on
#workforceparticipation of women by way of surveys and promises and researches, she believes her time has come.
Because the IWP has always been placed last and she hopes that will change.
In 2000, when Avtar was born, it was with the express purpose of increasing
#womensworkforceparticipation.
In 2005, when we first started the second career revolution for women in India, we proved to corporates that the Indian woman is a different person altogether. She is unlike her western or far-eastern counterparts. You can't paint her with a broad brush. You need to really understand the IWP and enable her.
In 2008, when we began advising corporates, it resulted in the creation of career comeback opportunities for lakhs of women, recognizing that flexible working is not just an option but oxygen for women's careers.
Yes, in the last 24 years of Avtar's existence, there has indeed been tremendous improvement, but we have a long way to go.
Why?
Simply because there are still thousands of organizations in India which lack even the basic policies needed to support women and leverage the power of
#WomensWorkforceParticipation.
For instance, consider policies such as paid maternity leave for expecting mothers, childcare support to new moms, flexible working options, commute assistance to women to ensure their safety and upskilling for women on breaks.
You would say, yes, my company offers all of this. And I agree. Fortunately, all or most of these enablers are available to women working in large Indian companies like
@MahindraRise @TataCompanies @TheJSWGroup @ITCCorpCom @drreddys et al and in MNC's like
@IBM @EYnews @AccentureIndia
@Citi et al.
But the plight of women employees in small and medium scale enterprises? It remains a cause for deep regret.
Mind you, MSMEs too are keen on providing all the above-mentioned enablers to their women but they are not in a position to do so.
Answer me this. With limited finances:
A} How can a small organization afford to provide full compensation to a woman employee without requiring her to fulfill job responsibilities?
B} How can an MSME afford to open a daycare for its women employees?
C} How can an MSME adopt diverse hiring practices when they face genuine challenges in employing and retaining women?
The answer is 'They cannot.' Not without the support of the government, which must provide financial support and incentives.
Hence the following asks:
1. Lower Taxation Slabs for Women
2. Tax Credit for Child and Dependent Care
3. Separate Section 80D Benefits
4. Enhanced tax sops for MSME's who employ women
Yes. The IWP waits in anticipation.
Will the Hon'ble
#FinanceMinister deliver good news? She is, after all, an
#IndianWomanProfessional, herself.
#GenderInclusivity #WomensWorkforceParticipation #WomensEmpowerment #BudgetSession #Avtar #ChangeMakers #InclusionRevolution