Nation eyes sticked on Union Budget 2018-a last full fledged budget of National Democratic Alliance government presented by Finance Minister Arun Jaitley. The Union budget was also eyed on the approaching Assembly elections as eight states go to polls this year. Today, the Union budget was presented in Hindi. As this is the last full budget of Modi government, he made his last move towards women empowerment- Salaried and non-salaried.
Let's take a look at Arun Jaitley's top moves towards empowering woman- salaried and poor, rural and urban
Modi's 'Empowering women' move
The finance minister has proposed take-home pay for the new women employees to go up in the formal sector and will have to contribute 8 percent instead of 12 percent of wages or 10 percent as the case may be, for the first three years.
The EPF would be provided 12% of wages new employees of Employees' Provident Fund (EPF) in all sectors of the government. The EPF contribution reduction for women will also incentivize employers to hire women.
The loans to women for self-help groups would also be increased as much as by 37 percent, said Finance minister. The government will encourage the women's self-help groups to take up the organic farming.
In this NDA government's last budget eight crores free gas connections will be given to the Women below the poverty line under Pradhan Mantri Ujjwala Yojana (UJJWALA). Currently 5 crore women were given free gas connection. Modi government's PM Ujjwala Yojana is a landmark decision that stands as a testimony of governments commitment towards empowering women. It will also help in improving the quality of lives of poor, both urban and rural.
Almost a 76 percent of loan accounts are of women out of which near about 50 percent of those accounts belong to SC, ST, and OBC category women. Jaitley's Union budget 2018 will focus a total lending of Rs 3 lakh crore under the Mudra Yojana. This scheme provides loans to women to encourage them to start their own new ventures and promote self-employment.
Jaitley's budget 2018 will also provide four crore electricity connections to underprivileged women under Saubhagya Yojana.
According to the report from Employees’ Provident Fund Organisation(EPF), 36.8 lakh new members in the age group of 18-25 years were added as of November 2017. The finance minister also stated that70 lakh formal jobs have been created in Union Budget 2018
Many women came out in support of Finance Minister's this move on social media. Here are some reactions.
Women contribution to EPF reduced to 8% from 12% for the first three years, while the employers contribution remains the same - in order to increase take home salary. Not sure if this measure is really good. EPF is a great measure for long term savings #Budget2018— Surabhi Agarwal (@SurabhiA_ET) February 1, 2018
Women's EPF contribution reduced to 8% for first 3 years of employment. No changes in employer contribution. 👏 #Budget2018— Vibha Surana (@VibhaSurana) February 1, 2018