Budget 2022: Will it bring more opportunities for women?

Highlights:

Budget 2022: What is the Budget?
Important things to know
What’s there for women in Budget 2022?

Budget 2022: Parliament Budget session begins today. Every year, one February 1, the Union Budget is presented by the Finance Minister. Well, as we head towards the budget announcement, the country is gearing up for what Finance Minister Nirmala Sitharaman has planned for the citizens. Before we closely take a look at the important things planned for women in Budget 2022, let us first understand what is the budget?

What is the Budget?

According to Article 112 of the Constitution, the Union Budget of the Year is also referred to as the annual financial statement. Notably, it is a statement of the estimated receipts and expenditure of the government for that particular year. Finance Minister Nirmala Sithraman is going to present her fourth budget. Since 1947, there have been a total of 73 budgets, 14 interim budgets and four special budgets or mini- budgets.

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What is there for women in Budget 2022?

This year the primary focus of the budget is to promote inclusive growth in the country. In fact, we are keen to hear about the reforms for women wellness, especially menstrual hygiene which is in line to receive its due focus. As the Budget Session has already kicked off in parliament, President Ramnath Kovind in his speech addressed the importance of women’s participation and said women empowerment is one of the top priorities of the Indian government.

Apart from it, the government can shift its strategies to a long – term outcome and will focus on the initiation of the key reforms that are sustainable for economic growth. From giving a boost to the start -up ecosystem to providing tax relief on raw materials used to make menstrual products. Today, every woman is impacted by the monthly menstrual cycle, and considering that we are one – half of the country’s population, it is obvious to expect more reforms in this sector.

Notably, Sanitary napkins have been categorized under a tax –free bracket, the expenditure incurred during the production is still taxable. We believe decreasing the import duty on raw material can make a big difference.

Government Can Support Start- Ups

The government can also extend support for start –ups and can create more opportunities for potential businesswomen in India who want to focus on problem solving for the gaps in what women need, want.

What Women Entrepreneurs in various sectors are expecting?

The women entrepreneurs from various sectors are expecting the government to grant tax benefits, interest and free loans. The Pandemic has affected everyone but the women workforce was more severely affected. In that case, women entrepreneurs have high hopes from Finance Minister Nirmala Sithraram. As the government repeatedly talks about women centric schemes, the finance minister should be in a position to allocate funds to new schemes and committees.

All you need to know about the Budget 2022

Finance Minister Nirmala Sitharaman will present the Union Budget 2022 at 11 am on February 1, 2022. Notably, President Ramnath Kovind addressed the joint session of Parliament. In view of COVID 19 guidelines, the Lok Sabha and Rajya Sabha will be functioning in staggered timings. On February 1, the timings for both the houses will be 11 am.

Kindly note Budget 2022 will be available on the mobile app after it is presented in the parliament and the app will provide easy access to Budget. To simply put, you can read the highlights of the Budget at a glance on the app. The Budget 2022 will be aired on Sansad TV, Doordarshan and other national channels.