Union Budget 2024-25: What Can Women Expect? Expert Shares Insights On Themes, Expectations, Priority Sectors, And More

With the Union Budget 2024-25 coming up next week, we had an insightful conversation with our expert, CA Sakchi Jain, a financial educator about the themes expected in this year’s budget, expected sectors that will be focused on, and more. Scroll down to learn more about what she told us.

Union Budget 2024-25: Women’s POV

We asked some questions from our expert and she explained some major details expected on this year’s budget.

Ques:- What are the themes around women that may be highlighted in the budget this time?

CA Sakchi told us that keeping in mind that women can play an equal role in the economic development of the country as its men, it is essential that the budget reflects this by highlighting key areas that can empower women and contribute to their progress. She said some things that should be highlighted in the Union Budget 2024-25 to empower women and the overall economic development of the country are as follows:

Focus on Healthcare for Women: The government is expected to increase allocation for women’s healthcare, including mental health, maternal health, and preventive care. This is because special attention is required on the rural health infrastructure to ensure accessibility for women in remote areas. “I believe the government should work on providing free vaccines to women, especially in rural areas, to improve overall health and well-being,” said Sakchi.

Support Women’s Entrepreneurship: Sakchi said that the government should support women-led businesses with special incentives, grants, and easier access to credit as it can help boost the participation of women in the entrepreneurial ecosystem, thereby driving economic growth. 

Skill Development and Education for Women: CA Jain explained that investing in women’s education and skill development, and working on initiatives that enhance women’s skills in both traditional and digital sectors can help boost employability. For this, the government may expand programs like Pradhan Mantri Kaushal Vikas Yojana (PMKVY) and Skill India with a focus on women.

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Improve Financial Literacy Among Women: It is essential for the government to take measures to improve financial literacy among women with initiatives such as digital banking literacy programs and schemes to promote women’s savings and investment. Schemes like the Mahila Samman Savings Certificate can help encourage women to save and invest in their future.

Ques:- What kind of plans are expected in the budget this time?

“In view of the themes highlighted above, the plans expected to be included in the Union Budget 2024-25, include the plans which include subsidised loan schemes for women to promote entrepreneurship, bringing up more skill development programs, and healthcare initiatives targeting specific women’s health issues such as menstrual health and cancer screening can be expected. Additionally, investment in safer public transport and infrastructure for women in urban areas is likely to be emphasised. These measures would not only address immediate needs but also create a more supportive environment for women’s long-term growth and empowerment,” said CA Sakchi Jain.

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Ques:- Which sectors are expected to or need to be focused on with concern to women?

CA Sakchi explained, “I believe technology, manufacturing, healthcare, and education are key sectors that require focus in the upcoming budget. These sectors are pivotal because they address critical areas where women's participation is required. In technology and manufacturing, encouraging more women to join and advance can increase diversity and innovation.”

“Increased investment in healthcare ensures better access to services tailored to women's needs, improving overall health outcomes. Enhancing educational opportunities in fields like STEM empowers women with skills for future job markets, fostering economic growth (Investment Options For Women) and equality. I believe these initiatives will not only support women's empowerment but also contribute to economic development at large,” she added.

Ques:- What might be the top priorities this time?

Sakchi said, “I believe the top priority of the government in this budget should firstly be education because it ensures that women have better job opportunities and economic independence, thereby promoting economic development in the country. Secondly, healthcare should be emphasised to improve women’s overall health and well-being. Following this, the government should focus on ensuring safety, security, and social welfare for women (New Rules For Surrogacy And Maternity Leave), addressing issues related to their well-being and empowerment.”

She said that these priorities are crucial as they can help create a supportive environment where women can feel free to thrive and contribute effectively to the nation's growth and development.

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