Policies implemented by the current government have shown promising results, with a rise in female labour force participation, improvement in sex ratio at birth, and reduction in maternal mortality rate, the government said in a document, titled Indian Economy: A Review, written by V. Anantha Nageswaran, Chief Economic Adviser, Ministry of Finance.
The report also highlighted financial inclusion efforts. “The success of PM Jan Dhan Yojana has increased the proportion of women having bank accounts from 53% in 2015-16 to 78.6% in 2019-21,” Nageswaran said. Moreover, infrastructure projects like the 'Swachh Bharat Mission,' 'Ujjwala Yojana,' and 'Jal Jeevan Mission' have transformed the lives of women across rural India, reducing drudgery and improving safety and dignity, the report noted.
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"Construction of over 110 million toilets under ‘Swachh Bharat Mission’ and clean cooking gas connections to nearly 101 million women below the poverty line under ‘Ujjwala Yojana’ have had a disproportionately positive impact on women,” Nageswaran said in the document.
The government's focus on women-led development is not only driving socio-economic progress but also aligns with broader goals of inclusive growth and gender equality, the report pointed out. "The abovementioned initiatives have already begun paying dividends, with the female labour force participation rate rising to 37 per cent in 2022-23 from 23.3 per cent in 2017-18, indicating a significant shift towards women-led development in India,” Nageswaran said.
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The report also highlighted the impact of key policies such as the women's reservation Bill and the Nari Shakti Vandan Adhiniyam (NSVA), which have propelled women's participation in various spheres.
"The NSVA is a leap towards women’s participation in the government, empirically associated with improved institutions and greater probity,” Nageswaran said. Furthermore, the document highlighted the success of initiatives like the Deendayal Antyodaya Yojana-National Rural Livelihood Mission (DAY-NRLM), which has empowered millions of women through self-help groups (SHGs).
"Women-led SHGs have a positive, statistically significant effect on women’s economic, social, and political empowerment," Nageswaran noted citing examples of enhanced financial decision-making and livelihood diversification.