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(GIST OF KURUKSHETRA) Financial Empowerment of Women

[April-2022]

Financial Empowerment of Women

Introduction:

UN Women says that gender equality is not only a basic human right, but its achievement has enormous socio-economic ramifications.
Empowering women fuels thriving economies, spurring productivity and growth. Yet gender inequalities remain deeply entrenched in every society.

About:

Financial empowerment of rural women is a priori for the overall development of the Indian society. Financially empowered rural women, are key to the success of families, communities and national economies. In recent years, the Government of India has given major impetus in this direction and the results of its efforts have been overwhelming.

Global Gender Gap Index:

In India, economical and social condition of its women population has been a matter of concern since long time. As per the Global Gender Gap Index Report 2020 published by the World Economic Forum, India ranks 112 out of 153 countries with a score of 0.668 out of 1. India ranked 108 out of 149 countries with a score of 0.665 as per the Global Gender Gap Index Report 2018. Thus, India’s performance has marginally improved from 0.665 in 2018 to 0.668 in 2020.
Global Gender Gap Index (GGGI) consists of four dimensions, namely,

economic participation and opportunity
educational attainment
health and survival, and
political empowerment.

As per the computational mechanism of GGGI, highest performance score on each of these four dimensions is 1. According to the GGGI Report 2020 India has scored 0.354 in economic participation and opportunity, 0.962 in educational attainment, 0.944 in health and survival and 0.411 in political empowerment.

Some major initiatives taken by Government of India in this regard are:

1. Beti Bachao Beti Padhao (BBBP) to ensure the protection, survival and education of the girl child.

2. Mahila Shakti Kendra (MSK) aims to empower rural women with opportunities for skill development and employment.

3. Working Women Hostel (WWH) ensures the safety and security for working women.

4. Scheme for Adolescent Girls aims to empower girls in the age group 11-18 and to improve their social status through nutrition, life skills, home skills and vocational training.

5. Mahila Police Volunteers (MPV) envisages engagement of Mahila Police Volunteers in States/UTs who act as a link between police and community and facilitates women in distress.

6. Rashtriya Mahila Kosh (RMK) is an apex micro-finance organisation that provides micro-credit at concessional terms to poor women for various livelihood and income generating
activities.

7. The National Creche Scheme ensures that women take up gainful employment through providing a safe, secure and stimulating environment to the children.

8. Pradhan Mantri Matru Vandna Yojana aims to provide maternity benefit to pregnant and lactating mothers.

9. Pradhan Mantri Awaas Yojana aims to provide housing under the name of the women also.

10. Pradhan Mantri Kaushal Vikas Yojana (PMKVY) aims to enable a large number of Indian youth including women to take up industry-relevant skill training in securing a better livelihood.

11. Deen Dayal Upadhyay National Urban Livelihoods Mission (DAY-NULM) focuses on creating opportunities for women in skill development, leading to market-based employment.

12. Pradhan Mantri Ujjwala Yojana empowers women and protects their health by providing LPG cylinder free of cost.

13. Sukanya Samriddhi Yojna (SSY) scheme has empowered many girls economically by opening their bank accounts.

14. Skill Upgradation and Mahila Coir Yojna is an exclusive training programme of MSME aimed at skill development of women artisans engaged in coir industry.

15. Prime Minister’s Employment Generation Programme (PMEGP) is a major credit- linked subsidy programme aimed at generating self-employment opportunities through establishment of micro-enterprises in the non-farm sector.

16. Female Entrepreneurship: To promote female entrepreneurship, the government has initiated Programmes like Stand-Up India and Mahila e-Haat (online marketing platform to support women entrepreneurs/ SHGs/NGOs), Entrepreneurship and Skill Development Programme (ESSDP). Pradhan Mantri Mudra Yojana (PMMY) provides access to institutional finance to micro and small businesses.

Conclusion:

The economic empowerment of rural women is a priori for the overall development of the Indian society. Financially empowered rural women, are key to the success of families, communities and national economies.
In recent years, the government of India has given major impetus in this direction and the results of its efforts have been unprecedented.