#WomenEntrepreneurs #UnionBudget2024 #Empowerment #Innovation #FinancialInclusion
The Union Budget 2024-25 reflects a holistic vision for inclusive economic growth by focusing on women entrepreneurs and their crucial role in shaping India’s future.
The Indian Budget 2024-2025 has several provisions to support women entrepreneurs. One notable step is the allocation of ₹1,000 crore for the Women Entrepreneurship Platform, which aims to empower women-led startups. Another key initiative is the extension of the Emergency Credit Line Guarantee Scheme for oxygen and medical equipment suppliers, benefiting women-owned businesses in the healthcare sector. The budget also proposes to increase the tax deduction limit for start-ups from 3 years to 5 years, helping women-led startups scale up. These measures demonstrate the government’s commitment to fostering women’s entrepreneurship in India.
Let us look at some reactions to the Budget by some enterprising women entrepreneurs.
Joyshree Das Verma, National President, FICCI FLO
“This year’s budget marks a significant stride towards enhancing women‘s role in India’s
economic development. The allocation of more than Rs 3 lakh crores for women-specific schemes and skilling programs underscore the government’s commitment to women-led development and enhancing economic inclusivity. The government is creating a supportive environment for women professionals through market access to women-led Self Help Groups and the establishment of working women’s hostels and creches in partnership with businesses.
Furthermore, the reduction in duties for properties purchased by women and the introduction of the NPS Vatsalya scheme, which promotes long-term savings for minors, exemplify the government’s commitment to an inclusive financial landscape for women and their families. Schemes like PM Vishwakarma, PM SVANidhi, Mudra Yojana and Lakhpati Didi are a testament to the transformative impact of targeted financial support for women. FICCI FLO stands poised to collaborate closely with the government to ensure these initiatives translate into tangible benefits for women entrepreneurs. Together, we can accelerate the momentum towards gender equality and inclusive growth, enabling women entrepreneurs to thrive and contribute
significantly to the nation’s economy”.
Kavitha Ramachandragowda, Co-Founder and Executive Director, Routematic
“The Union Budget 2024-25 serves as a significant stride towards women’s empowerment, earmarking over ₹3 lakh crore for initiatives benefiting women and girls. By facilitating higher participation of women in the workforce through the establishment of working women hostels and creches in collaboration with industry, the government is creating supportive environments for women professionals. The government’s focus on higher education, women centric skilling, employability, and enhanced schemes for women entrepreneurs along with the abolition of the angel tax is commendable and will undoubtedly boost the startup ecosystem in India and representation of women in the Indian workforce.”
Neha Bagaria, Founder & CEO, Herkey
“As a woman entrepreneur, I am deeply encouraged by the Union Budget 2024-25’s commitment to fostering women’s participation in the workforce. The dedicated focus on creating hostels and women-specific skilling programs reflects a significant step towards gender parity in business. Moreover, the new credit guarantee schemes for MSMEs, which remove the burden of collateral requirements, will empower countless women-led enterprises to grow and innovate. This budget not only addresses immediate economic needs but also lays a strong foundation for a more inclusive and equitable future. It is heartening to see such a comprehensive approach to unlocking the potential of countless women across India.”
Avtar Madan
Himanshu
Shree Lahiri
