Women Leaders Applaud & Assess: Insights on the Interim Budget 2024


#Budget2024 #WomenLeadership #EconomicGrowth

The recent unveiling of the interim Budget for 2024-25 was focused on youth and women empowerment, while maintaining fiscal consolidation and continuing capex. The focus was on – economic policies that foster growth, facilitate inclusive development, improve productivity, and create opportunities for various sections.

It has stirred varied sentiments within the Indian business community. While some applauded its forward-looking stance, considering it a visionary roadmap for India’s transformation and hailed it as forward-looking vision statement for the journey to a developed country by 2047, others expressed a shade of disappointment, particularly over the absence of tax reliefs for individuals.

In the lens of women leaders, a positive narrative unfolds. Their responses to Budget 2024 accentuate key initiatives in critical areas like women entrepreneurship, fiscal consolidation, infra, agri, tourism, green growth and railways, but no changes were made in tax rates. These reactions not only mirror optimism but also signify backing for the government’s commitment to fostering economic growth, sectoral advancement and crucially, championing women’s leadership.

Here are some comments:

> Ruby Sinha, President, BRICS Chamber of Commerce and Industry Women’s Vertical (BRICS CCI WE) & Founder sheatwork

“The interim budget today highlighted how India’s economy will witness an unprecedented development in coming years with Women empowerment being one of the key focus areas for the government of India. With India experiencing faster growth in the women’s entrepreneurship ecosystem, the budget has positively highlighted various policy interventions supporting this growth. Mudra Yojana loans given to women entrepreneurs in the last 10 years have boosted their consumption and savings and such support to women entrepreneurs
promises to not only elevate women’s roles in the economy but also pave the way for income equality, household prosperity, and broader national development.

By potentially narrowing the gender wealth gap, these measures could harness the untapped potential of women, significantly contributing to India’s growth story. We hope that the next budget further recognizes and uplifts the invaluable contribution of women to India’s progress.”

> Simran Sharma, Co-Founder and Lead Product Manager, Yodda – Elder Care

“It is good to see that the interim budget considered women as one of the key focus groups this year. The allocation of 30 crore Mudra Yojana loans to women entrepreneurs in the last 10 years is a very positive step. We would have liked to see the interim budget bring more income tax benefits and support for women entrepreneurs in India, and we hope that the next budget addresses these gaps to potentially narrow the gender wealth gap and harness the untapped potential of women.

With India experiencing a vibrant wave of entrepreneurship and a growing startup ecosystem, we need to provide more support to women entrepreneurs and lay a long-term taxation policy and steps that boost their consumption and savings. Furthermore, initiatives to upskill young women and female entrepreneurs in India are also necessary.”

> Usha Jha, Founder, Petal Craft

“Right now this is an interim budget and a complete response cannot be given on it, but one thing that looks good is that the focus has been on reducing the deficit so that the GDP improves.

The decision to bring a special housing scheme for the middle class is a welcome step. It has been said that tax exemption will be available for one year for startups, this will increase the pace of the industry.

In this, focus should be on small cottage industries, women and youth because these are the means of self-employment.”

> Parbati Bhattacharya, Founder, Wanderers Footprints Travel Boutique

“Happy that the government is looking into developing infrastructure in remote areas
and untouched destinations. This will give a boost to inbound tourism and local people will get better employment.”

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