Union Budget 2024: Govt’s initiatives to boost women’s workforce participation | Know Major Announcements

Union Budget 2024:  In a significant move to enhance women’s participation in the workforce, Finance Minister Nirmala Sitharaman announced a series of initiatives in the Union Budget 2024 presented by her on Tuesday.. Recognising the critical role of women in the economic development of the country, the government has prioritised measures to support and empower female workers.

One of the key strategies unveiled is the establishment of hostels specifically designed to accommodate working women. These hostels aim to provide safe, affordable, and accessible living conditions, making it easier for women to pursue employment opportunities away from their hometowns. By addressing the housing needs of working women, the government hopes to reduce one of the significant barriers that hinder women’s active participation in the workforce.

Additionally, the government will foster partnerships with various organisations to develop and implement women-specific skilling programmes. These programmes will focus on equipping women with the skills and training necessary to excel in diverse industries. By aligning these skilling initiatives with market demands, the government aims to ensure that women can secure quality jobs and contribute meaningfully to the economy.

Finance Minister Nirmala Sitharaman highlighted that these efforts were part of a broader strategy to create an inclusive workforce environment where women could thrive. “The government is committed to ensuring that women have equal access to job opportunities, career advancement, and economic independence,” she added in the Budget 2024 speech.

The Finance Minister emphasised that increasing women’s workforce participation is not just a social imperative but also an economic one.

Notably, studies have shown that higher female participation in the labour market can lead to substantial economic gains and drive inclusive growth. By implementing these initiatives, the government aims to harness the potential of women as key contributors to the nation’s economic progress.