Nirmala Sitharaman, Minister of Finance, announced in her presentation of the Union Budget 2024-25 in the Lok Sabha on July 23 that it includes an allotment of more than Rs.3 lakh crore for schemes for the empowerment of women and girls as well as initiatives to promote women-led development. This is Ms. Sitharaman’s record seventh time making a budget speech. This is also the first Budget presented by third NDA government after winning Lok Sabha elections.
Ms. Sitharaman said this meant that budgetary allocation underscores the government’s determination to improve women’s role in economic development.
To encourage wider participation of women in workforce, she stressed that the government would collaborate with industry to provide working women hostels and crèche facilities within its factory premises.”Additionally, this industrial-cum-governmental initiative will possibly launch skills’ training programmes aimed at women only and give access to markets for SHG businesses led by them.
On social justice front, the government intends adopting a saturation approach ensuring various programs including health & education cover all eligible people. In fact, one of key priorities under union Budget 2024-25 is inclusive human resource development – envisaging greater labour force participation rates through skill-building efforts directed towards traditionally marginalised sections.
Ms. Sitharaman stated,” Our Government is dedicated to holistic growth encompassing all areas especially farmers, youth, women and poor.” She pointed out that the implementation of such schemes meant at supporting economic activities through craftsmen , artisans , SHGs , SC/STs and women entrepreneurs and street vendors like PM Vishwakarma, PM SVAnidhi, NRLM and Stand-UP India would be intensified.
Under urban development section, high stamp duty rates have been encouraged to be reduced by all states for urban related devlopment. It has asked for a further lowering of dutues for properties purchased by women.
