Budget 2023: What Women Can Expect from FM Nirmala Sitharaman

Here are 5 things women are expecting from the budget 2023 and Finance Minister Nirmala Sitharaman

Nirmala Sitharaman, the Finance Minister of India, is presenting the Union Budget 2023 in Parliament. However, this time, women expect high from the FM. Slab rates, taxes, and policies presented in the parliament during this time of the year directly affect not only entrepreneurs, the working class, and the middle class, but also the women of the country. As most of the women are considered house managers, they keep a close eye on the budget for 2023.

Here are 5 things women can expect from the budget 2023 and Finance Minister Nirmala Sitharaman.

Women safety 

Recently, several crimes against women have been reported. As per reports, in 2021, 30% more cases were registered compared to the previous year. Cybercrimes are also one of the major concerns of Indian women. Therefore, women are expecting this issue to be raised in parliament.

Women education 

According to the National Statistical Office data, despite several schemes introduced by the government like the National Rural Livelihood Mission, Beti Bachao, and Beti Padhao, literacy among women is approximately 15% lower than that of men. Therefore, a major section of the budget could be devoted to this area.

During the lockdown, there was a hike in female school dropouts. The government is expected to mull over bringing the students back to school.

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Relaxation of tax on menstrual products

For several years, women have been demanding that the government reduce or remove taxation on menstrual hygiene products. The GST on sanitary pads was removed; however, a slab of 12–18% on the raw material used to make sanitary napkins is still taxable.

Female products are more expensive than men’s as “Pink Tax” is levied on them, making a product 13% more expensive. The government is expected to take stringent actions against this unfair pricing system.

Women in workplace 

Many women are the breadwinners of their families. During the pandemic, some had stepped out and taken jobs, and some had turned into entrepreneurs. However, according to government data, female labour participation fell to 16% in 2021, implying that many women had lost their jobs or were forced to close down their businesses.

Therefore, tax benefits given to such ladies will bring them back to their workplaces. Moreover, more government jobs need to be reserved for female candidates.

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Income tax benefits for women 

Schemes like the Sukanya Samriddhi Yojana have a lock-in period of 21 years, while PPFs have a lock-in period of 15 years. This makes it difficult for the women, as the money invested cannot be used when required.

Women are expecting a good amount of tax exemption, which will increase their savings.

We will update you soon, if Nirmala Sitharaman lives-up to the expectation or this Budget 2023, will turn out to be a major failure from a female point of view.

Stay tuned!

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