Skills, micro-loans, empowerment: What women want from Budget 2023

In 2019, Nirmala Sitharaman made history when she became the first woman permanent finance minister of India to present the Union Budget.

Presenting his first Budget, he emphasized the role of women by identifying them—Naari stood Narayani-according to the traditions of our country, it is said that they hold an important place in the growth and development of modern India.

In 2020, she announced that women’s self-help groups (SHGs) in villages—the Daanyalakshmis (seed sharing)—will be well supported by Mudra and NABARD government schemes. In addition, he highlighted the success of the government’s initiative Beti Bachao, Beti Padao and allocated an amount of Rs 28,600 crore for special programs for women for the financial year 2020-21.

In the matter of financial inclusion in 2021, the FM proposed to reduce the capital expenditure requirement from 25% to 15% and include loans for activities related to agriculture under the Stand Up Indian program for SCs, STs, and women to facilitate access to credit. .

Naari Shakti this is the symbol of our future,” Sitharaman said last year.

He clarified further, saying, “For women-led development, our government has renewed the plans of the Ministry of Women and Children. Angry Development. Three programs—Mission Shakti, Mission Vatsalya, Saksham Anganwadi, and Poshan 2.0—were launched recently to provide collective benefits to women and children.

A week before the presentation of the Union Budget 2023, women from the Indian environmental organization said His Story everything about their expectations and what they think is the way forward.

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Additional triggers

Women entrepreneurs have many expectations from the government regarding credit assistance and COVID incentives for women-run businesses.

There is a need to rethink investments for health leaders to be inclusive, diverse, and relevant. In the upcoming Budget, the government expects the workers, especially the businessmen, that the government will provide additional incentives, including the reduction of taxes, interest-free loans, and offering financing for women entrepreneurs.

The Budget should also have measures for the development of skills for women and equal pay for women workers, bearing in mind that the public is now shifting to technology jobs.

Entrepreneurs also need good educational opportunities and skills-based training for women to start their own companies or choose career paths abroad. cultural institutions are dominated by women.

A strong and sustainable women’s policy is needed in order to promote the development of women’s businesses. The initial group hopes for continued Budget and policy stability.

Dr Garima Sawhney, Co-founder, Pristyn Care

Equal opportunities

The 2023 Budget should prioritize investment in skills development and equal opportunities for mothers in the workforce. It is possible to focus more on special education centers to support women’s new ideas in education and inspire them to turn them into businesses.

Additionally, these centers can help with the complexities of starting a business and handling compliance.

Rajeshwari Singh, Co-founder and CEO, deQollab

Support economic empowerment

To address the greater access to funding for women-led start-ups, the Budget can help provide interest-free loans, investments, and incentives for start-ups and MSME is led by mothers.

In addition, the government should focus on funding programs that support the economic empowerment of women and increase their access to resources to join the workforce.

Most women-led businesses in India are run from home. The promotion of MSME programs and the promotion of these businesses so that they become viable generators are important for economic growth.

Pashmi Shah, Co-founder and CMO, Get-A-Way

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A good environment

Apart from subsidies, easy access to capital, and GST concessions, etc., women also need a better environment, enabling them to become them and business people.

It can be in the form of consulting assistance, development, capital support, and other things that help them and act as an obstacle in their acceleration phase.

Kamna Hazrati, Founder, KH Consultants

Funding for women’s startups

As India is a member of the G20 this year, this year’s Budget is even more important, and the government must take prudent steps to achieve gender equality. and women.

The first requirement is to increase the share of women in the budget, which has historically been less than 1% of GDP.

Entrepreneurs – where women borrow money for their small businesses from small finance banks (SFBs) and NBFCs – should be given incentives to support women entrepreneurs.

Currently, the way to restore the SFBs is very difficult. But, if these women get SOPs, their businesses can survive.

Promoting business by funding women-led businesses with high growth rates through government programs should be on the agenda of the government.

Shruti Jain, CSO, Arihant Capital

Simple rules

Budget 2023 should provide more protection and benefits for working women. It should also include simplified laws to promote women entrepreneurs, especially in urban and rural India, with special emphasis on technology, energy, and agriculture.

The Budget should encourage job creation – both formal and informal – in order to get the most out of our human resources. Many initiatives to improve startups will continue, especially in agritech and new technologies, including IoT, AI, AR, energy, and fintech.

The startup ecosystem will focus on tax incentives, facilitating investment in growth capital, and reforms to support Indian businesses around the world.

With mixed workplaces and the gig economy, it is expected that some new laws will find their place to promote similar practices.

Four minor labor laws-the Code on Wages, Industrial Relations Code, Social Security Code, and Occupational Safety, Health, and Working Conditions-are set to replace 29 labor laws.

Although they were approved in 2020, many state governments have not yet implemented the new laws. A few simple measures included in the Budget 2023 can help in quick implementation.

Through these laws, the government can ensure that more than 90% of India’s 50 million workers in the unorganized sector enjoy the benefits of minimum wages and social security.

Yeshasvini Ramaswamy, entrepreneur and CEO, Best Places to Work®

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Access to credit and loans at low interest rates

One of my main goals for Budget 2023 is to provide funds and resources for skills development and training for women, to help them succeed in their businesses and contribute to the economy.

In addition, it will be useful for the government to provide access to credit and loans at low interest rates for businesses led by women to help them start and expand their businesses and compete on equal terms with their partners.

The Government must also implement policies and plans to encourage the participation of women in the financial sector, including the provision of taxes for companies with a higher percentage of women in leadership positions.

In addition, the Budget should provide women entrepreneurs with mentoring and networking opportunities to help them connect with successful women in business and learn from their experiences.

Sonam Srivastav, Founder and CEO, Wright Research

More money for mental health

The finance minister should look into introducing a separate financial system for women’s farms or expanding it. to all enterprises and other stakeholders in the organization. Filtering the startup’s access to revenue is critical.

The government should also consider making it easier to secure credit for women entrepreneurs. Offering competitive interest rates, easy approval terms, and quick disbursement of funds will help make capital easier to access when needed. for increasing the business.

Finally, the Budget should have more support for mental health than the Rs 40 crore allocation, which has not changed in the last two years. The government should also look at encouraging startups to come up with new offers in the field, helping people to live more satisfied and hopeful.

Harini Ramachandran, Co-founder, Excellence Installations Technology, and Co-founder of Antano & Harini