2024 has been a landmark year for finance in India, marked by transformative initiatives and policies with a significant focus on women’s empowerment and inclusion. Here are five pivotal moments that stood out:
1. Nirmala Sitharaman’s Historic Seventh Budget
Finance Minister Nirmala Sitharaman etched her name in history when she presented her seventh consecutive Budget for the fiscal year 2024–25. This achievement surpasses the record of former Prime Minister Morarji Desai. Sitharaman, India’s first full-time female Finance Minister, has consistently shaped the country’s financial roadmap since 2019.
Under her leadership, the Union Budget has also seen a sharp focus on women-centric policies. From spearheading the largest allocation for women’s welfare to introducing programmes that encourage women’s participation in the workforce, Sitharaman’s tenure highlights her commitment to empowering Nari Shakti.
2. ₹3.3 Lakh Crore Allocated For Women’s Welfare In The Union Budget 2024–25
The 2024–25 Union Budget placed women’s empowerment at the heart of India’s development strategy. A record ₹3.3 lakh crore was allocated for schemes that enhance women’s participation in the workforce, ensure safety and security, and create supportive ecosystems through initiatives like working women’s hostels and crèches.
The government’s focus extended to providing women-specific skilling programmes and market access for women-led Self-Help Groups (SHGs). The result? A robust framework designed to drive women-led development across various sectors.
3. Majhi Ladki Bahin Yojana: Financial Independence For Women
Maharashtra’s ’Majhi Ladki Bahin Yojana‘ emerged as a beacon of hope for women from the economically weaker sections. The scheme provides ₹1,500 per month to eligible women aged 21–65 years via direct benefit transfer.
With over 2.5 crore beneficiaries already enrolled, the initiative has made significant strides towards economic freedom for women, improving their health, and reinforcing their role within families. The recently launched Nari Shakti Doot mobile app further simplifies the process of registration and access to this scheme, enhancing its reach and impact.
4. Digital Innovation For Women’s Financial Inclusion
Maharashtra’s Nari Shakti Doot app is revolutionising how women access government schemes. As a one-stop platform, it simplifies online registration for the Majhi Ladki Bahin Yojana, making financial aid more accessible to beneficiaries.
This digital innovation highlights the role of technology in bridging gaps and empowering women, particularly in rural and semi-urban areas. The app’s launch demonstrates a commitment to leveraging tech for social good, setting a precedent for future schemes
5. Subhadra Yojana: Odisha’s Game-Changer For Women
The Odisha government introduced the Subhadra Yojana, a groundbreaking scheme benefiting women aged 21–60. The initiative provides ₹10,000 annually to eligible beneficiaries in two instalments—on Raksha Bandhan and International Women’s Day—over a five-year period.
This scheme, designed to empower more than one crore women, represents a significant investment in their financial security and independence. Prime Minister Narendra Modi’s launch of Subhadra Yojana also coincided with key infrastructure projects, reinforcing the integration of empowerment with development.
These moments underscore the critical role of financial policies in driving inclusive growth. As these initiatives unfold, they will undoubtedly shape a more equitable and progressive financial landscape for years to come.