Union Budget 2021: What this year’s budget may have in store for women

The union budget 2021 will be announced by our Finance Minister Nirmala Sitharaman on Feb 1. Read on to know what can we expect from this year's budget.

By Sanyukta Baijal
Fri, 29 Jan 2021 09:49 PM IST
Minute Read
Union Budget 2021: What this year’s budget may have in store for women

New Delhi | Jagran Business Desk: Just a few more days to go before the Union Budget will be announced for the financial year 2021-2022. And just like every year this time too there are some expectations from the government to provide some perks for women. Promoting gender equality and the same pay scale are still in focus but this year, hopes for policies and allowances for women are high because of one reason and that’s COVID-19 pandemic. Yes, due to the outbreak of the deadly virus, at grass-root level women were the ones who faced the brunt of low or no incomes and economic slowdown way more than men.

Impact of COVID-19 on women

COVID-19’s global pandemic didn’t spare anyone be it financially or medically. And the women were the ones who faced the wrath of it the most. Yes, women’s contribution constitutes up to 17% of the country’s GDP.  According to the Centre for Monitoring Indian Economy (CMIE) women were less than 11% of the workforce, however, the 14% of the ones who lost their jobs were also women. Therefore, it is very important that women should be given a certain priority in the upcoming budget.

Gender neutrality

Thankfully nowadays many big firms have gender-neutral policies. But unfortunately, not all companies follow it. Therefore, the new budget in this case can work wonders by providing bonuses or incentives to the firms to promote gender neutrality.

Easy loans
Women in semi-rural and rural sectors are inclined towards being self-employed if given a chance. But usually, it is a tight rope walk for the women in informal sectors to get easy loans. However, if they will be provided with the appropriate support for training and technology then they will easily be able to start something of their own.

Gold prices

Gold is one of the primary things women in rural areas believe in investing their money into. Therefore, there are expectations that prices of gold which rose high in the past few months will be stabilized by reducing the duties on it. This will help women from lower sectors gain more purchasing power.

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