Finance Minister Allocates Over Rs 3 Lakh Crore for Women-Led Development in 2024-25 Budget

Finance Minister Nirmala Sitharaman announced a budget allocation exceeding Rs 3 lakh crore for women and girls, aimed at promoting women-led development. Key initiatives include working women hostels, creches, and skilling programs. The budget highlights a significant rise in female workforce participation, reflecting the government's commitment to women's economic empowerment.

Finance Minister Nirmala Sitharaman on Tuesday announced a substantial budget allocation of over Rs 3 lakh crore dedicated to schemes benefitting women and girls, emphasizing the government's commitment to enhancing the role of women in economic development.

Key highlights of the Union Budget for 2024-25, presented in the Lok Sabha, include the establishment of working women hostels in partnership with industries, and the provision of creches to support working mothers. These initiatives aim to improve work-home balance for women and encourage greater workforce participation. Additionally, the budget introduces women-specific skilling programmes designed to boost female workforce engagement, which rose to 24% in Q2FY24.

Recent payroll data indicates a notable increase in female workforce participation, with 0.24 million new female members added as of May 2024, marking a 12.1% rise compared to the previous year. NCW Chairperson Rekha Sharma praised these efforts, underscoring the crucial role of women in sustainable national development and growth.