“The most recent CEDA-CMIE report indicates that there were almost 14 million fewer people employed in October 2022 than there were in January 2020. This means 9.6 million fewer women are employed as a result. As an entrepreneur, I’m looking forward to the union budget with the hope that it is being drafted keeping women's labour force in consideration. The Indian govt should focus on broadening the domestic economy and creating newer employment opportunities with a special focus on building the female economy.
The government has taken some positive steps in last year’s budget to bridge the gender gap in the workforce. Even India Inc. is making an effort to reduce this gap by creating opportunities for women interested in making a comeback to work after a career break. The shift towards digital and taking a tech-driven approach, especially in the past few years is profound. In this fast-paced environment where it is essential to constantly stay abreast with technology and digital skills, relevant upskilling will open bigger and better career opportunities for women, especially if they have been on a career break. Some of these measures include increasing funds for upskilling of women, especially in the STEM domain.
In order to maintain the growth, it is vital that the budget addresses women’s distinct economic roles, and recognises their constraints and their contribution towards national economic development. It would be great to see the upcoming budget focus on allocating more funding to women-led businesses with attached tax benefits, and incentives for women entrepreneurs. The government should also consider mandating equal pay for equal work, and offering incentives like tax benefits to organisations that hire more women and should come up with strategies to rationalise equal pay for men and women."