Girls counting cash at a garment stitching machine unit.
| Photograph Credit score: Getty Pictures/iStockphoto
Observing that India is transitioning from girls’s growth to women-led growth, the Chief Economic Advisor on July 22 mentioned there was a 218.8% enhance in budgetary allocation for schemes for the welfare and empowerment of girls even because it acknowledged that girls in India face the “’motherhood penalty” with a drop in feminine labour pressure participation price round childbearing years.
“The share of the Gender Price range within the complete Union Price range has elevated to six.5% in Monetary 12 months 2025, the very best because the introduction of Gender Budgeting Scheme in Monetary 12 months 2006,” the Chief Financial Advisor (CEA) mentioned within the Financial Survey, which was tabled in Parliament.
Economic Survey 2023-24 highlights
This reveals that India is shifting from girls’s growth to women-led growth. He additionally underscored the federal government’s dedication in direction of guaranteeing employment alternatives for ladies in numerous fields.
The survey mentioned that skilling schemes have put a devoted emphasis on protecting girls, and the variety of girls skilled below Pradhan Mantri Kaushal Vikas Yojana (PMKVY) has elevated from 42.7% in monetary 12 months 2016 to 52.3% in monetary 12 months 2024. Underneath the Jan Shikshan Sansthan (JSS) scheme, girls represent about 82% of the entire beneficiaries and in institutes like ITIs and Nationwide Ability Coaching Institutes (NSTIs), the participation of girls has gone up from 9.8% in FY16 to 13.3% in FY24.
With rural India propelling the development, the survey noticed that the feminine Labour Pressure Participation Fee (LFPR) rose to 37% in 2022-2023 from 23.3% in 2017-2018. The Pradhan Mantri Jan Dhan Yojana (PMJDY) has facilitated the opening of 52.3 crore financial institution accounts, of which 55.6% account holders are girls, as of Might 2024.
Read the full document of Economic Survey 2023-24
Delving on the essential facet of care financial system, the survey estimated that direct public funding equal to 2% of the GDP has the potential to generate 11 million jobs within the sector, almost 70% of which can go to girls.
It flagged worldwide fashions of Australia, Argentina, Brazil, and the U.S. on this sector to get insights for India.
“The financial worth of growing a care sector is two-fold — growing feminine labour pressure participation price (FLFPR) and selling a promising sector for output and job creation. In line with Worldwide Labour Organisation (2018), the care sector is without doubt one of the fastest-growing sectors globally, and investments within the care companies sector are estimated to generate 475 million jobs globally by 2030,” it mentioned.
