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Union Budget 2019: Government to introduce schemes to encourage role of women in economic growth

Union Minister of Finance and Corporate Affairs Nirmala Sitharaman said in Parliament today that “the role of women is a very sweet story” in India’s growth particularly in the rural economy while presenting the Union Budget 2019-20.

Union Budget 2019: Government to introduce schemes to encourage role of women in economic growth

New Delhi: Union Minister of Finance and Corporate Affairs Nirmala Sitharaman said in Parliament today that “the role of women is a very sweet story” in India’s growth particularly in the rural economy while presenting the Union Budget 2019-20.

The government wishes to encourage and facilitate the role of women in India’s growth story, she added. She proposed to form a broad-based committee with government and private stakeholders to evaluate and suggest action for moving forward.  

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Nirmala Sitharaman said that gender analysis of the budget aimed at examining the budgetary allocation through a gender lens has been in place for over a decade. She added India can make progress with greater women’s participation in its growth story.  

The Minister quoted Swami Vivekananda’s letter to Swami Ramakrishna in which he had said that “there is no chance for the welfare of the world unless the condition of women is improved. It is not possible for a bird to fly on one wing”.

Finance Minister proposed that for every verified woman Self Help Group (SHG) member, having a Jan Dhan Bank Account, an overdraft of Rs.5,000 will be allowed. She also proposed to expand the Women SHG interest subvention programme to all districts.

Further, one woman in every SHG will also be made eligible for a loan up to Rs 1 lakh under the MUDRA Scheme. The government has supported and encouraged women entrepreneurship through various schemes such as MUDRA, Stand UP India and the Self Help Group (SHG) movement, Sitharaman added.