Budget 2023: The Union Budget 2023 would be a fantastic time for the Finance Minister to concentrate on providing women with sufficient growth prospects that might close the gender gap in the economy as we continue to recover from the pandemic’s effects.
Women play an important role in India’s spectacular growth story. While the government has implemented a number of progressive plans and policies in recent years, there is still a long way to go. Women make up only 18% of India’s GDP. The figure only emphasises the enormous potential that remains unexplored.
Now, having said that, let us look at a few areas in which women are expecting some changes owing to this year’s budget.
Budget 2023 must give more focus to women’s healthcare. More funding should be made to improve women’s health and fitness.
Speaking of hygiene, the first thing that women expect is lower taxes on Hygiene products. Women are mostly concerned about their menstrual cycle. Almost 30 years of their lives are devoted to this period. But unfortunately, the costs of sanitary napkins are getting higher.
Although Goods and Services Tax (GST) has been removed from sanitary napkins had been removed, according to a press release from the Central Board of Indirect Taxes and Customs (CBIC), all of its raw materials continue to be subject to GST in the 12–18 percent bracket. All other personal care items, including shampoo, body wash, intimate wash, and shaving cream, are still subject to the GST. Hence this percentages should be reduced.
Maternity and Childcare
Programs for pregnant ladies and new mothers would benefit greatly from increased financial support from the government. Expanding the reach of initiatives like the Pradhan Mantri Matru Vandana Yojana is part of this.
Pink Tax or Gender-based price
Now there is this term called ‘pink tax’, which is the excess amount that a woman must pay on products, specifically marketed for them. This is often attributed to gender-based price discrimination. This is something the government should look into. For instance, buying a razor for women will cost them at least 50% more than a razor purchased for men. This is utterly an unnecessary baggage levied on women.