Budget 2025: Youth & Women Empowerment

• The Budget 2025 could be presented on the 1st of February by India's financial minister Nirmala Sitharaman.
• The focus of the budget could be on youth empowerment and an increase in jobs for the youth.
• Women empowerment and how it can impact the Indian economy can also be discussed in Budget 2025.

The upcoming Budget 2025 is one of the most anticipated events in terms of the Indian economy. While taking the ever-evolving global financial landscape in mind, the Indian government will be proposing the required changes in the Indian budget.One of the major areas to tackle for the Indian government would be regarding youth employment and women empowerment while presenting the budget. There is a high likelihood that both of these segments will play an important role in the upcoming Budget 2025. Let's find out what you can expect.

Unemployment has been a major concern for a large majority of the youth. Based on the most recent Annual PLFS reports, the estimated unemployment rate for young people aged 15-29 years in India during 2023-24 was 10.2%.The lack of employment opportunities has caused an increase in competition for the jobs that are currently available. An effort to increase job opportunities for the youth can be anticipated in the upcoming Budget 2025.

Looking at Relevant Sectors

Technology and energy are two sectors where job creation can be expected. With the advent of AI (Artificial Intelligence) and the subsequent demand for GPU (Graphic Process Units), the technology sector can be a key area for improving employment.Other booming sectors like energy and pharmaceuticals can also be considered in the upcoming budget.

Previous Budget

In the government's last budget, a sum of ₹2 lakh crore was allocated to impact 4 crore people to help them become employed. This flagship program, which provided new hires into the formal sector with a month's pay subsidy, aims to guarantee job retention as well as job creation.To encourage them to retain their personnel for at least a year, employers who register new workers with the Employees' Provident Fund Organisation (EPFO) would receive direct benefit payments of up to ₹15,000 per employee. This strategy is a thoughtful attempt to promote a stable, long-term labour market, particularly for young people who are keen to start working.The government could propose such incentives for employers to promote hiring across various sectors. Also Read: https://www.adityabirlacapital.com/abc-of-money/budget-2024-recap

Another way through which the gap in employment can be reduced would be upskilling the young unskilled labour force. A focus on providing necessary skills to youth can be anticipated in the Budget 2025. Initiatives to provide relevant skills in sectors like energy and technology could be considered in the upcoming Budget 2025.

Apart from integrating the youth into the economy, the participation of women in the Indian economy could also be a focal point of the upcoming 2025 budget.According to PIB (Press Information Bureau) data, the rate of women's participation in the workforce is 41%, which is below the global average.

Flexible Work Schedule

With its emphasis on workable, significant solutions, the Union Budget 2025 has the ability to solve these long-standing injustices. This entails developing flexible work schedules, offering safe and convenient transportation, and growing the number of reasonably priced childcare services.

Social and Behavioural Change Communication Programmes

Increasing funding for social and behavioural change communication programmes that challenge and reshape conventional gender norms is equally important. These policies are economic facilitators that can unlock the full potential of Indian women, not just welfare provisions.

The upcoming Budget 2025 is poised to be a pivotal moment for India's economic trajectory, with the possibility of a strong emphasis on empowering youth and women.
Addressing the pressing issue of youth unemployment, the budget is likely to focus on job creation in emerging sectors like technology and energy, coupled with robust upskilling programs.Simultaneously, by prioritising women's economic participation through initiatives that alleviate the burden of unpaid care work and challenge gender norms, the government can aim to unlock the immense potential of India's female workforce.These measures, if effectively implemented, have the power to drive inclusive growth and propel India towards a more equitable and prosperous future. Also Read: https://www.adityabirlacapital.com/abc-of-money/budget-2025-expectations-on-income-tax