The Positive Influence of Union Budget 2024-25 on Indian Startups

Boosting Women’s Confidence to Bloom

In the Union Budget 2024-25, FM Nirmala Sitharaman underscored certain initiatives which are exclusively designed for women’s growth and success. Also she reaffirmed the country’s commitment towards encouraging the surging participation of women in all categories of workforce. She highlighted that the administration targets to partner-up with industries and enterprises to construct high-ended hostels for employed women and establish dedicated centers to provide personalized skill developing training programs for women. In addition, the finance minister announced that strategic endeavors will be taken and implemented towards enhancing the market accessibility for startups led by women.

Sonica Aron, Founder, Marching Sheep, comes out with a positive response, “The post-budget reaction to Budget 2024 in employment and skilling sectors has been notably positive. The government’s substantial Rs.10,000 crore allocation for skill development reflects a strong commitment to preparing a workforce aligned with modern economic demands. Support for MSMEs through financial incentives and simplified credit is expected to boost job creation. Nirmala Sitharaman introduced a PM Package of five schemes with a ₹2 lakh crore allocation, aiming to enhance employment and skilling efforts. This year, ₹1.48 lakh crore is earmarked for education, employment, and skilling. The Employees' Provident Fund Organisation (EPFO) will see strengthened capabilities and outreach, and a new scheme will offer internships to 1 crore youth across 500 top companies. We had hoped for allocations and incentives for safety provisions and accessible infrastructure to boost the inclusion of women and persons with disabilities in workforce. These initiatives aim to bridge the skills gap, drive economic growth, and build a resilient, future-ready workforce”.