Expectations from the Union Budget 2024-25: A Vision for Economic Growth and Women’s Empowerment
As
India
continues
its
journey
towards
becoming
a
$5
trillion
economy,
Sudha
Reddy,
Entrepreneur,
Director
–
MEIL,
and
Women
Industry
Leader,
highlights
that
the
upcoming
Union
Budget
2024-25
is
a
crucial
opportunity
to
reinforce
growth
across
industries,
strengthen
infrastructure,
and
foster
inclusivity—especially
for
women
in
business
and
leadership.
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Mrs.
Sudha
Reddy,
Director
–
MEIL
–
Visionary
Woman
Leader
Driving
Innovation
and
Growth
at
MEIL
Empowering
Women
Entrepreneurs
and
Business
Leaders
India
has
witnessed
a
remarkable
rise
in
women-led
enterprises,
yet
access
to
capital,
skill
development,
and
policy
support
remain
critical
challenges.
The
budget
must
introduce
incentives
such
as
low-interest
credit
lines,
venture
capital
funds
for
women-led
startups,
and
increased
government
procurement
from
women-owned
businesses.
These
initiatives
will
not
only
boost
women’s
participation
in
economic
activities
but
also
accelerate
innovation
and
job
creation.
Infrastructure
Growth
and
Manufacturing
Excellence
MEIL
has
been
at
the
forefront
of
India’s
infrastructure
and
manufacturing
expansion,
playing
a
pivotal
role
in
energy,
water,
and
transportation
sectors.
The
budget
must
prioritize
investment
in
large-scale
infrastructure
projects,
streamline
approval
processes,
and
encourage
public-private
partnerships
(PPPs).
A
robust
infrastructure
sector
will
ensure
seamless
logistics,
enhance
industrial
productivity,
and
attract
global
investments.
Technology
and
Sustainability
as
Economic
Pillars
India’s
manufacturing
sector
needs
strong
support
for
digitalization
and
sustainability.
Incentives
for
smart
manufacturing,
AI-driven
automation,
and
clean
energy
initiatives
will
enhance
efficiency
and
global
competitiveness.
Tax
benefits
for
companies
adopting
green
technologies
and
carbon-neutral
strategies
should
be
a
priority
to
align
with
India’s
net-zero
commitments.
Skilling
and
Workforce
Development
A
future-ready
workforce
is
essential
for
sustained
growth.
The
budget
should
allocate
greater
funds
towards
technical
and
vocational
training,
particularly
for
women,
in
high-growth
sectors
like
renewable
energy,
aerospace,
and
digital
technology.
Collaborations
between
industries
and
educational
institutions
should
be
incentivized
to
bridge
the
skill
gap
and
prepare
young
talent
for
emerging
job
markets.
A
Call
for
Inclusive
Economic
Policies
As
an
entrepreneur
and
industry
leader,
I
believe
a
truly
progressive
budget
must
focus
on
inclusivity—supporting
MSMEs,
boosting
research
and
development,
and
enabling
financial
accessibility
for
underrepresented
groups.
Policies
that
encourage
women’s
leadership
in
boardrooms
and
create
a
more
balanced
corporate
ecosystem
will
be
instrumental
in
shaping
India’s
economic
future.
The
Union
Budget
2024-25
holds
immense
potential
to
accelerate
India’s
growth
trajectory.
With
the
right
focus
on
infrastructure,
women
empowerment,
and
technological
advancement,
we
can
build
a
resilient
and
globally
competitive
economy
that
thrives
on
innovation
and
inclusivity.