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Innovative Financial Advisors Pvt. Ltd. –

The Economic Aspect of Women Empowerment

Innovative Financial Advisors Pvt. Ltd. - Over the years, India has seen significant progress in social

development initiatives as it became one of the biggest economies of Asia and the world. One area which

has been in focus even as part of election manifestos is Women Empowerment. Despite awareness and

significant measures by government, non-government and other agencies the ground reality is very much

different. Atrocities, discriminations and crimes against women are very common whether it’s rural or

urban India. The society has not yet evolved out of issues like female feticide, domestic violence, abortion,

rape and many more.

Despite all these atrocities, there are approximately 16 crore women who work as housewives are not even

considered to be part of any economic activities. In the rural areas where majority of the population

engage themselves in agriculture as their primary occupation, 2/3rds of them are women. However, the

primary sector comprising of agriculture and allied activities have remained stagnant putting a lot of

pressure on the majority of the population of the country who are dependent on it. This is one major

reason why India still remains home to world's largest number of poor. The agriculture contribution is

mere 18% to GDP when more than 50% of the population is dependent on it. The rural women who still

finds it difficult to come out of their poverty stricken state has to engage themselves in the fields and do

household chores putting enormous pressure without any distinct recognition. More often than not their

revenue generated from agriculture couldn't even feed them for more than six months making them

migrate to nearby areas for seasonal employment. Those who don't have to face the brunt of society and

are looked down. There are also issues related to domestic violence and women still remain distant from

making any decisions whether financial or any other household matter.

In order to earn additional revenue and nutrition many rural women engage themselves in animal

husbandry activities. However, due to lack of knowledge, skills, infrastructure etc. there is no set platform

that will enable them to earn higher revenue for their households. It becomes tough to meet the expenses

related to health and education. Without additional income they also are not able to pay off their debts.

Lack of skills and knowledge is also a barrier for their development. Women don't have access to alternate

livelihood opportunities and financial services that will enable them engage themselves in additional

income generation activities.

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Innovative Financial Advisors Pvt. Ltd. believes through social initiatives, there is a need to create a

platform of Self Help Groups for women that will enable them to inculcate the habit of savings and inter-

loaning. The SHGs will also be the base for facilitating skill development trainings to the women in the

community. These trainings will ensure the women become capacitated with employable skills that lead to

additional income generation for their household. Providing assistance and establishing a platform to

improve the value chain of various trades will ensure easy access to suppliers and consumers for

procurement and marketing of products and services in the region. Providing them entrepreneurship and

soft skills will boost their confidence and enable them to adapt and work in any environment. Ultimately

establishing an enterprise model for the SHGs under a federation structure to reap benefits for a long

period of time should be the main goal to create a socio-economic impact in the region. Innovative

Financial Advisors Pvt. Ltd. suggests that these kinds of initiatives will also motive and encourage others

in the nearby area to engage themselves in additional income generation activities.

By Rahul Choudhury

Media Team – Innovative Financial Advisors Pvt. Ltd.