Skills training, economic empowerment: this is what young women entrepreneurs expect from the 2024 budget | EXCLUSIVE
Budget 2024: Some of the women entrepreneurs. Budget 2024 should prioritize skill training, especially for young women in Bharat, by offering vocational training after class 12.
Budget 2024: Ahead of the Budget 2024 presentation on February 1, several young women entrepreneurs in the country expect the Center to prioritize skill training, especially for young women in Bharat, by offering vocational training after class 12. Some other women CEOs said the Centre's transition should meet the Centre's requirements. its promise to encourage the evolution of “Lakhpati Mahilas” of women self-help groups.
In conversation with India.com: Saloni Verma, co-founder and chairman of Sunshine Corporate Creches, said the Maternity Act 2017 made it mandatory for companies with more than 50 employees to provide crèche services to their employees. At the same time, 6 months of paid maternity leave also became law. While the intentions in both clauses are good, it would help if the Center came up with financial incentives for smaller sized companies to help them pay the salaries of those on maternity leave and then set up crèches for them.
Increase allocation for the education sector
She added that the expectation for the Union Budget 2024 holds the hope of increasing allocation to education, prioritizing integration of technology and improving infrastructure.
“Stakeholders expect measures to address skills development, promote research and reduce the digital divide. Transparent policies and sustainable financing are important expectations,” she said.
Focus on sustainable investments
Zaiba SarangAccording to co-founder of iThink Logistics, Budget 2024 is a crucial opportunity to strengthen its potential as India's logistics sector gears up for another year of growth. “We expect a number of important steps aimed at driving the sector's progress. An increased focus on sustainable investments in the development of multimodal infrastructure is expected, with an emphasis on dedicated freight corridors, inland waterways and intelligent logistics parks to improve efficiency and reduce costs.” She said.
She also expects the upcoming Budget to boost green initiatives such as electric vehicles, green storage and the adoption of renewable energy, with the aim of reducing the carbon footprint and attracting sustainable investments.
Skills training for young women
Jyoti BhandariFounder and CEO Lovak Capital said last year's budget highlighted the importance of women's economic empowerment and recognized their important role in promoting a dynamic economy.
She added that the 2024 budget should prioritize skill training, especially for young women in Bharat, and vocational training should be offered after class 12. “Further, it must fulfill the promise of encouraging the development of “Lakhpati Mahilas” from women self-help groups. This shift would not only catalyze economic growth in rural areas but also secure substantial growth in SHG networks,” she said.
Tax credits, GST reductions
Richa Singh, CEO and co-founder of Happinetz said, “One of our first product commitments was to ensure that Happinetz Box would be a Make in India product. While the government has consistently pushed for more reforms to encourage domestic production, my expectations from the current budget would be more financial relief, such as tax rebates or VAT reductions, for both manufacturers and companies that support the 'Make in India' initiative.”
She said these incentives would serve as a crucial catalyst, pushing companies to more aggressively align their long-term strategies with the 'Make in India' framework. By providing more tangible support, the Budget has the potential to deliver a substantial revival in domestic manufacturing, contributing to the overall resilience and self-sufficiency of the Indian economy.
Dhanashree Mandhani, Founder and CEO of Salam Kisan said: “Directly encouraging technology adoption in agriculture through subsidies and policy frameworks is equally important. Data mining and data collection should be done as a government initiative and budgets should be made available to do the same. We have adopted and seen the transformative role of drones ourselves.”
She stated that formalization of women employment/farming in the agriculture sector should be on the agenda of the government in this budget as we cannot deny the participation of women in raising families.