Priority of Gender Economic Empowerment in Indian Budgeting System – a study on Mahila Samman Saving Scheme in Visakhapatnam Andhra Pradesh

Abstract:

Women have been regarded as the ‘nuclei’ of the family, society, Nation and in the economic development of the country. So, women development leads to the development of family, society, and the Nation. Economic development encompasses the economic dimension, which has been visible in the policy paradigm in recent times. Recently, increasing women’s financial inclusion is especially important as women disproportionately experience poverty, stemming from unequal divisions of labour and a lack of control over economic resources. At present, women empowerment could be possible through financial inclusion with the investments. .   The introduction of various women empowerment schemes in India has benefited women in multiple ways: firstly they are able to gain social security and earning opportunities. This Paper attempts to study about Mahila Samman Saving certificate Scheme in the process of women financial empowerment. In the Union Budget of 2023-24 the Finance Minister announced a new saving’s scheme for women investors. Mahila samman saving Certificate (MSSC) aims to economically empower women and encourage them to park their earnings in formal financial saving instruments. The main objective of this paper is to study awareness of the scheme for women empowerment through financial inclusion in India. The study will use both primary and secondary data through various sources and suited statistical tools and methods will be applied for analysis. Major findings of the study are observed that the number of women purchased these certificates and invested huge amounts in Post Offices and authorised banks.