The Next Step in Women’s Empowerment
What is the next chapter in achieving true independence for children? Financial literacy. While mastering the basics of education through programs like “Beti Bachao, Beti Padhao” is essential, understanding finance and being able to make informed decisions about savings and investments is equally crucial for women’s empowerment.
Since 1947, significant strides have been made in improving the status of women in India. The female child mortality rate has dramatically decreased from 213 per 1,000 live births in 1972 to 31 per 1,000 in 2021. Additionally, female literacy rates have improved, rising from 54.2% in 2001 to 65.5% according to the 2011 census. However, these advancements must be accompanied by the ability for women to make their own economic decisions to achieve true empowerment.
Bridging the Financial Knowledge Gap
Despite these gains, many women still lack the financial literacy and skills necessary for true independence. While the gender gap in education and mortality has narrowed, women continue to lag in financial knowledge and access to financial resources. The existence of women’s self-help groups, like Kerala’s Kudumbashree, demonstrates the potential for economic empowerment to drive social change.
Gender inclusion in economic activities is essential. Initiatives such as women-only branches by national banks can play a crucial role. With the digitization of the economy, women now have access to financial products from their homes. Government programs like Jan Dhan Yojana, which facilitates direct cash transfers to women’s bank accounts, and the Open Network for Digital Commerce, which allows small businesses to promote their products online, are excellent examples of promoting gender inclusion in the financial sector. As women become equal partners in the nation’s development, the slogan “Beti Bachao, Beti Padhao” should evolve to include “Vitt Simkhao” – Teach her finance.