“The tabled interim Budget has set the tone for the next phase of growth and development of the nation. By way of acknowledging the importance of inclusivity and equal opportunities for all, the government is reiterating the potential that increased women’s workforce participation will contribute to overall GDP of the nation. The continuous allowances to entrepreneurship for women and youth, skilling or simply put towards the GYAN (Garib, Yuva, Annadatha and Nari) Bharath do promise growth and stability for the country. However, MSMEs and Start-ups – the key sectors that have the potential to boost women’s workforce participation, have not seen much push in the last two years, particularly by way of tax rebate in SEZs for companies operating in the STEM industry. While 43% of STEM graduates are women, they make up only 28% of the workforce in STEM. Moreover, women drop out of the workplace due to childbirth, childcare and elder care. Consequently, only 3 percent of women hold CEO posts in the STEM Industry. To fast-track the growth, the new government will have to usher initiatives and policy measures such as incentivizing targeted women-talent hiring and retention especially in the MSMEs and Start-ups sectors that will provide the much-required fillip towards women’s workforce participation.”
