Leaders opine budget can accelerate the momentum towards gender equality and inclusive growth, enabling women entrepreneurs to thrive and contribute significantly to the nation’s economy.
Here is a snapshot of what they say:
Joyshree Das Verma, National President, FICCI FLO: This year’s budget marks a significant stride towards enhancing women‘s role in India’s economic development. The allocation of more than Rs 3 lakh crores for women-specific schemes and skilling programs underscore the government’s commitment to women-led development and enhancing economic inclusivity. The government is creating a supportive environment for women professionals through market access to women-led Self Help Groups and the establishment of working women’s hostels and creches in partnership with businesses. Furthermore, the reduction in duties for properties purchased by women and the introduction of the NPS Vatsalya scheme, which promotes long-term savings for minors, exemplify the government’s commitment to an inclusive financial landscape for women and their families. Schemes like PM Vishwakarma, PM SVANidhi, Mudra Yojana and Lakhpati Didi are a testament to the transformative impact of targeted financial support for women. FICCI FLO stands poised to collaborate closely with the government to ensure these initiatives translate into tangible benefits for women entrepreneurs. Together, we can accelerate the momentum towards gender equality and inclusive growth, enabling women entrepreneurs to thrive and contribute significantly to the nation’s economy.
Kavitha Ramachandragowda, Co-Founder and Executive Director, Routematic: The Union Budget 2024-25 serves as a significant stride towards women’s empowerment, earmarking over ₹3 lakh crore for initiatives benefiting women and girls. By facilitating higher participation of women in the workforce through the establishment of working women hostels and creches in collaboration with industry, the government is creating supportive environments for women professionals. The government’s focus on higher education, women centric skilling, employability, and enhanced schemes for women entrepreneurs along with the abolition of the angel tax is commendable and will undoubtedly boost the startup ecosystem in India and representation of women in the Indian workforce.”
Neha Bagaria, Founder & CEO, Herkey: As a woman entrepreneur, I am deeply encouraged by the Union Budget 2024-25’s commitment to fostering women’s participation in the workforce. The dedicated focus on creating hostels and women-specific skilling programs reflects a significant step towards gender parity in business. Moreover, the new credit guarantee schemes for MSMEs, which remove the burden of collateral requirements, will empower countless women-led enterprises to grow and innovate. This budget not only addresses immediate economic needs but also lays a strong foundation for a more inclusive and equitable future. It is heartening to see such a comprehensive approach to unlocking the potential of countless women across India.
Naina Aggarwal Ahuja, Founder, Talking Point Communications: The government’s allocation of over ₹3 lakh crore to support women’s economic participation highlights a significant commitment to gender equality. Initiatives like the establishment of working women hostels and the substantial investment in skilling and employment programs demonstrate a proactive approach to enhance women’s roles in the workforce. The focus on upgrading training institutes and creating meaningful internship opportunities is particularly promising. If implemented effectively, these measures are poised to empower women and young professionals significantly and advance their contributions to our economy.”
Shriti Malhotra, Group CEO, Quest Retail, The Body Shop: The focus in the budget on youth upskilling and creating greater support for working women, aligns perfectly with our company’s goals for a future-ready workforce.
Higher investment in upskilling will equip our youth for our evolving economy and contribute to India’s continued growth. We have experienced this first-hand, with incredible results from The Body Shop apprenticeship program, through which we work with government supported upskilling programs to train and recruit exceptional young people into our business. We are extending this companywide to promote young talent, skill and create future leaders across our stores.
Promoting women-specific skilling programmes are truly commendable steps towards creating a more inclusive and equitable workforce. The increased funding for the Women and Child Development Ministry’s schemes perfectly aligns with our deep systemic focus on gender equity in the workplace and our very progressive maternity, childcare and flexible working policies. We have a formidable 100% post-maternity retention rate.
A more inclusive workforce that meaningfully represents our large youth demographic and our female population is crucial to unlocking our potential.
