On February 1, 2023, Finance Minister, Nirmala Sitharaman, presented Union budget 2023-24. With a slew of measures and incentives covering several segments, here are four snapshots from the budget, which aims to empower women directly and indirectly.
Empowering SHGs: The -National Rural Livelihood Mission has achieved remarkable success by mobilizing rural women into 81 lakh SHGs. Forming Large Producer Enterprises will enable these SHGs to reach the next stage of economic empowerment.
Mahila Sammaan Bachat Patra: A one-time new small saving scheme will be available for a two-year period up to March 2025. Deposits up to Rs 2 lakh for women/ girls will be covered at a fixed interest at 7.5 percent with a partial withdrawal option.
Enabling artisans and craftspeople: The newly-conceptualized Pradhan Mantri Vishwakarma Kaushal Samman (PM-VIKAS) scheme is aimed at the country’s traditional artisans and craftspeople. The Finance Minister said, “It will give them financial support and advanced training, brand promotion, digital payments, and social security. It will greatly benefit people belonging to weaker sections and women.” It is a boost to women, who account for 56.13 percent (or 38. 61 lakh) of craftspeople, as per the latest Indian handicrafts census.
Firm steps for ‘shri anna’: Renaming millets as ‘shri anna’, the Finance Minister said while presenting the budget, “India is the largest producer and second largest exporter of Shree Anna, to make India a global hub for Shree Anna, Indian Institute of Millet Research Hyderabad will be the Centre of Excellence for sharing best practices at international level.” Women play a significant role in the country’s millet revolution. As Prime Minister Narendra Modi highlighted in his latest edition of Mann Ki Baat, more women are emerging as milletpreneurs. According to the data available, there is an opportunity for women, as they constitute 80% of the farmers cultivating the crop in India.
