The absorption of the “womenomics” principle in the 2022-23 budget of Tamil Nadu
India ranks 120 among 131 countries in female labor force participation rate. The female labour participation rate in India had fallen to 20.3% in 2019 according to World Bank estimates. Majority of Indian women work in the jobs in the informal sector due to lack of higher education and specialised job skills. In March, 2011 women workers constituted only 20.5 % of total employment in organised sector in the country pushing India to a lower share of women’s contribution to the GDP than the global average of 37%.
A survey observed that women workers are the most disadvantaged in the labour market in India, as they constitute a very high proportion among the low skilled informal worker category and are engaged in low-productivity and low paying work, mostly piece rates. In India, out of all estimated workers in manufacturing, construction, trade, transport, education, health, accommodation & restaurant, IT/ BPO and financial services, 70.7 per cent are male and 29.3 per cent female. . Thus, India’s organised job market is severely skewed against women with employment opportunities for them mostly restricted to traditional sectors. Most of the women are employed in unorganized sector, working with low pay, without perks like holidays or medical benefits and without security of jobs. Their incomes do not give them the much needed economic power nor, do they contribute to GDP of our nation significantly since, their incomes from unorganized sector do not enter into national income calculation. The main reasons for their lower employment in organized sector are the lack of higher education and specialised job skills. These two factors play a significant role in the economic empowerment of women and contribute higher economic worthiness of women in other nations.
In 2013, former Prime Minister Shinzo Abe proposed to adopt “womenomics” as a core pillar of the nation's growth strategy In Japan. This concept explains that, . “Womenomics” is the idea that, women’s economic advancement will improve the economy as a whole through their higher contribution to GDP. In other words, higher entry of women into the organised job sector is an important driver of growth and development in future of all the nations. Higher economic worthiness of women does not stop with personal benefits. In OECD countries, if the female employment rates were raised to match Sweden, it would lead to a GDP increase equivalent to $6 trillion. Gender pay gaps end up costing the economy in different ways. Workforce in the Indian manufacturing industries is only about 10% of the total female workers. Were India to rebalance its workforce, the IMF estimates, the worlds biggest democracy would be 27% richer. Then, its people would be well on their way to middle-income status.
The Tamil Nadu government has incorporated “womenomics principle” in its 2022-23 budget because, a study has found out that raising women's participation in the labor force in the formal economy to the same level as men can boost Tamil Nadu economy to a great extent. The All India Survey of Higher Education (AISHE) 2019-29, released by the Centre recently, reveals that Tamil Nadu is among the states that have a higher enrollment of women in undergraduate and postgraduate courses. But the dropout rate from college education is higher among rural families. The main reason is financial difficulty. According to AISHE 2019-20, the difference between male and female enrollments in colleges in Tamil Nadu is around 36,000. Higher Enrollment of girls in Higher education and their retention the colleges till they complete their course is the best way to make young girls economically empowered .The present government of Tamil Nadu has understood this core point connected with economic empowerment of women. Their university degrees would help them to enter into better jobs in the organised sector where there is no gender injustice in wage matters .Their entry into the organised sector would create an Army of young girls with higher economic status living their lives with dignity ,confidence to face the challenges of life and determined face any risks in life would supplement to their families’ income and thus provide decent food, clothing, shelter, education and medical treatment and these women would not succumb to domestic violence and ill treatment.
Considering all the benefits of women’s economic empowerment through higher education , the Tamil Nadu government during the recent budget session announced that, “all the girls from classes 6-12 in government schools would be paid Rs 1000 till the uninterrupted completion of their undergraduate degree or diploma or ITI courses “. This is in addition to other scholarships .The money would be paid to the girl’s bank accounts every month for 36 months. It is estimated that, approximately 6 lakh girls would benefit from this measure according the State Finance Minister’s statement. The expenditure involved for 2022-23 is 698 cores. This move is hailed by the gender economists and by financial experts as the most productive welfare measure taken by the Tamil Nadu government to empower poor girls socially and economically resulting in, higher contribution of women resource to the GNP. The aim of this budgetary support is to prevent girls from dropping out of colleges due to their poverty position.
Tamil Nadu emerges with third rank among the big states in the country, in terms of Gross Enrolment Ratio (GER) in higher education. Tamil Nadu has 50.5 per cent male enrollment and 49.5 per cent female enrollment in colleges. TN is No 3 in Higher Education gross enrolment ratio . The Centre has set a target of achieving 50% GER in higher education by 2030 and now we have achieved it almost. But the dropout rate of girls from colleges is a matter of worry to the Government. Hence present budget support to girls would mainly prevent the drop out from colleges and would encourage the girls of Tamil Nadu to complete their degrees, enter into organised jobs, enhance their economic worthiness and make significant contribution to GNP of the nation which is the core point of the “womenomics principle”
