#Budget2024
Like thousands of citizens of
#Bharat who expect a magical wand-wave by the government via the
#UnionBudget, I too look forward, each year, to the budget and today was no different.
Glad to report that today's
#Budget showed that the government has given due recognition of
#WomenPower and for the very first time, I heard a
#FinanceMinister use the term "
#WomensWorkforceParticipation" within 3 minutes of her speech!
While the government has earlier, on many occasions demonstrated its women-centricity with
#BetiBachao Beti Padhao,
#MissionShakthi and
#SakshamAnganwadi for
#ruralwomen, this time, the
#UrbanWoman has obtained some focus. Building of
#WorkingWomensHostels,
#Creches and
#SkillingPrograms for women are heartening developments. These are all critical measures that can truly empower women, which is much needed for our nation’s progress.
Having said that, let me be honest. No budget so far has managed to fully meet my expectations with regard to women’s advancement, including today’s. Because the urban/semi-urban woman (or the white-collar woman) does not get her full due.
Here are some numbers for you:
· Less than 30% of women in urban India are engaged in paid work.
· Only 20% of the MSME workforce is women.
· Consequently, it is hardly surprising that only 4.7% of CEOs in India are women.
When urban women engage actively in paid work, it can significantly contribute to India’s economic advancement:
· India’s GDP will see a 27 per cent jump if India manages to raise women’s workforce participation to the same level as men. (IMF)
· Research shows that gender diversity in an organization leads to new ideas, more innovation and better teamwork, thereby boosting company profits, which in turn fuels economic development.
The government can greatly aid this cause. It is crucial that they do because private enterprises, especially MSMEs, cannot independently advance women’s employment rates because they cannot afford to offer paid maternity leave to their female workers or offer childcare support to them.
When @avtarinc introduced the initiative
#BusinessisGood, we reached out to large corporates to do for small business, many supportive actions, which they offer their own employees - a safe workplace, appreciation of diversity & inclusion, upskilling of women! I am glad that many of our amazing partners have made this a part of their "goodness" focus. And this is why, our cherished partners obtained the social license of doing business!
To see India truly shine, we must light up the path for our urban women. Let’s make it happen!