Budget 2024: Hostels, skilling among initiatives for women in workforce

In her Union Budget 2024 speech, FM Sitharaman also said that partnerships would be created to organise women-specific skilling programmes in India

In her Budget 2024 speech, Finance Minister Nirmala Sitharaman announced a number of initiatives for women in the workforce. She said that, like in the interim budget, the Centre would focus on the poor, women, youth, and farmers.

For women specifically, Sitharaman announced the allocation of Rs 3 trillion for schemes benefiting women and girls. She also said that working women's hostels would be set up in the country to promote women's participation in the workforce.

Media reports had earlier said that several companies like Foxconn were constructing such hostels for women at their facilities in Tamil Nadu. This model is already used in Taiwan.

 

Sitharaman also said that partnerships would be created to organise women-specific skilling programmes in India.

"We will facilitate higher participation of women in the workforce by setting up working women hostels in collaboration with industries and the establishment of creches. In addition, the partnership will seek to organise women-specific skilling programmes and promote market access for women SHG enterprises," she said.

In the Economic Survey tabled on Monday, Chief Economic Advisor V Anantha Nageswaran said that India was transitioning from women’s development to women-led development. He mentioned a 218.8 per cent increase in budgetary allocation for schemes related to the welfare and empowerment of women.

“The share of the Gender Budget in the total Union Budget has increased to 6.5 per cent in Financial Year 2025, the highest since the introduction of the Gender Budgeting Scheme in Financial Year 2006,” the Chief Economic Advisor (CEA) said in the Economic Survey, which was tabled in Parliament.