New Delhi: Finance Minister Arun Jaitley may announce incentives for employers who hire more women workers to boost employment of women in several sectors of the economy, indicated a report on Business Standard. The Union Budget 2018, to be tabled tomorrow at the Parliament, might ease payments under schemes for women workers administered by the Employees’ Provident Fund Organisation (EPFO), said the report quoting government sources.
It may be noted that a reduced rate of contribution for women workers may range between six to 10 percent, as its own share towards PF schemes. The expected move will ease pressure on employers, apart from encouraging more firms to hire women workers. The new plan is in line with the government’s desire to increase employment of women in various sectors of the economy, especially in urban areas.
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In fact, one prime focus of this year’s budget is empowering women in the country to promote the idea of gender equality. The government has clearly indicated its interest in eliminating gender gaps that have been a hindrance to the social and economic integrity of the country. Several top government officials including Jaitley have mentioned that this year’s financial focus will be to uplift the condition of women in the country.
Besides, the government also plans to boost launch a few schemes exclusively for women in rural areas, involved in agricultural activities. The Economic Survey tabled a few days ago showed that a large number of women in rural India are engaged in farming but do not have the proper training and facilities. A number of schemes are expected in this regard.
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Not just women, but this year’s budget is expected to alleviate the issues pertaining to the farm sector, and small and medium-scale industries. The government is also expected to increase tax limit from Rs 2.5 lakh to Rs 3 lakh in a move to woo the salaried class. While the government has clearly indicated that this year’s budget will not be a populist one, it will have to offer some sops to the middle class and rural population to stay strong in 2019.
Source: ET NOW