#Budget2024 #WomenEntrepreneurs #BRICSWomen #EmpowerHer #IndiaEconomy #BRICSWE
New Delhi July 17: The Women Empowerment vertical of the BRICS Chamber of Commerce and Industry (BRICS CCI), BRICS CCI WE has requested the Finance Minister Srimati Nirmala Sitharaman to announce policies and initiatives – to empower women entrepreneurs in India.
A reality today is that women entrepreneurs often face challenges because of issues like – gender biases and limited resources that hinder access to finance, technology, and market insights and more.
To address these challenges, BRICS CCI WE has submitted 10 key recommendations to the finance minister to consider for the upcoming Union Budget 2024-25. These include – allocating resources for gender-disaggregated data collection on women entrepreneurs, increase financial schemes specifically for women-led MSMEs, and enhance funding for Skill India to include specialized training programs for women in digital literacy and e-commerce.
Additionally, BRICS CCI WE has suggested increasing support for initiatives that provide mentorship and facilitate global market linkages for women entrepreneurs, implementing targeted policy interventions to ensure greater participation and equity in the e-commerce landscape, and investing in safer urban environments to encourage women’s participation in entrepreneurship.
Another suggestion is – allocating funds for expanding childcare facilities and caregiver services to women entrepreneurs.
Plus, the government should encourage female-focused venture capital funds through financial incentives and grants – aimed at scaling up women-owned businesses and breaking funding barriers.
Expectations are high that the upcoming budget should give higher tax deductions and relaxations specifically for – women entrepreneurs and startups to reduce financial burdens and encourage growth.
Finance Minister will present Union Budget on July 23, in her third straight term. The upcoming Budget is anticipated to focus on strengthening the country’s economic resilience, fostering innovation & enhancing competitiveness, as the country navigates a complex global economic landscape currently.
Stay tuned.
Content Team
