As India eagerly expects the unveiling of the Union Budget for 2025-26 this February, a key focus will be on whether the government continues to prioritize women-centric initiatives, given their significant role in the 2024 elections. With women making up a larger share of voters and playing an influential role in shaping the election outcome, many are hoping to see policies that further empower women and strengthen their participation in the nation’s growth.
Women’s Role in the 2024 Elections
The 2024 Lok Sabha elections saw a sharp increase in female voter turnout, with 18 million more women voting compared to the 2019 elections. According to a report by the State Bank of India (SBI), this surge was largely due to various women-centric schemes such as income transfer programs, literacy initiatives, Mudra Yojana loans, sanitation efforts, and housing benefits under the
Pradhan Mantri Awas Yojana (PMAY).
The report provided key insights into the impact of these initiatives:
Women’s Representation in Governance
Despite the progress in women’s voter participation, representation in governance remains a challenge. The percentage of women elected to the Lok Sabha has risen from 5% in the first Lok Sabha to 14% today. However, this is still slightly lower than in 2019. States like Chhattisgarh, Gujarat, and West Bengal have made notable progress in this area, with higher-than-average female representation in Parliament.
The rise in Women PMJDY (Jan Dhan Yojana) accounts and Mudra loan beneficiaries also correlates with increased electoral participation, suggesting that financial empowerment is a critical factor in encouraging women’s engagement in governance.
Budget 2024-25: A Step Toward Women Empowerment
The Union Budget for 2024-25 allocated over Rs 3 lakh crore to women and girls' schemes, reflecting the government's commitment to women-led development. The Ministry of Women and Child Development received a 3% increase in its budget, reaching Rs 26,092 crore, marking the largest increase in over a decade.
Some key highlights included:
As the 2025 Budget approaches, many are hopeful that these schemes will continue to receive attention and funding to further support women’s growth in India.
Budget 2025: Boosting India’s Manufacturing Sector
India’s manufacturing sector has shown remarkable progress, with a growth rate of 9.9% in FY 2023-24. However, to maintain this momentum and reach its goal of contributing 25% to GDP by 2030, the upcoming budget must focus on reforms that drive the sector’s growth.
The 2024 Union Budget broadened the scope of the production-linked incentive (PLI) scheme to cover 16 sectors, including new additions like toys and footwear. The allocation for the scheme surged by 89%, from Rs 8,520 crore in FY24 to Rs 16,092 crore in FY25. A significant portion, 38%, was earmarked for large-scale electronics manufacturing.
While India has made progress in global markets, challenges remain. Many manufacturers are struggling to meet the targets for the PLI scheme, particularly in IT hardware and white goods sectors. As the sector matures, it is essential to address these challenges and ensure that India continues its upward trajectory in global manufacturing.
India’s Global Manufacturing Ambitions
India has long aspired to be the world’s alternative to China in terms of manufacturing, a vision that gained traction with the launch of the 'Make in India' initiative in 2014. Today, the country’s manufacturing sector includes a diverse range of industries, from electronics to pharmaceuticals, and even space technology.
In FY 2023, India’s electronics production nearly doubled, reaching $101 billion, with mobile phones accounting for 43% of the total electronics production. However, India faces challenges in focusing on exports, with the percentage of sales from exports in the manufacturing sector dropping from 20% in 2012-13 to less than 7% in 2023. A major push from the government to strengthen exports and simplify trade-related processes could help India capitalize on global markets.
The Tamil Nadu Model: A Success Story
Tamil Nadu has emerged as a leader in India’s manufacturing sector. In 2024, the state attracted nearly Rs 1 trillion in investments, positioning itself as India’s most industrialized state and the largest exporter of cars and electronics. Tamil Nadu’s success is partly due to the “China Plus One” strategy, which has led to significant investments from global companies.
Tata Motors’ billion-dollar investment in a new facility to produce Jaguar-Land Rover cars and Ford’s reopening of its Chennai factory are just a few examples of how Tamil Nadu is becoming a hub for manufacturing and innovation. The state’s focus on industries like electric vehicles has also helped it attract global companies, such as Vietnam’s VinFast.
By replicating Tamil Nadu’s success in other states, India could bolster its manufacturing sector. States like Uttar Pradesh, Bihar, Rajasthan, and Madhya Pradesh, with their large labor pools, have the potential to follow Tamil Nadu’s example and attract similar investments.
As Budget 2025 nears, all eyes are on the government to see whether it will continue to emphasize women’s empowerment and boost India’s manufacturing sector. With women playing an increasingly influential role in shaping the country’s political and economic landscape, the upcoming budget could provide critical funding and reforms to drive their continued participation in India’s socio-economic growth. Meanwhile, India’s manufacturing sector, especially with its focus on global competitiveness, is poised to become a significant player on the world stage, if given the necessary support and direction in the upcoming Budget.
_677f7303896bd.jpg)
