Women participation in labour force pegged at 20.1% in Apr-Jun: SBI Ecowrap

Participation of women in labour force stood at 20.1 per cent in April-June, of which 55,.8 per cent comprise regular wage/salaried employees, according to the latest SBI Ecowrap report which cited the PLFS data. These are followed by self-employed women (37 per cent) and women workforce engaged in casual labour (7.2 per cent).

The relationship between economic development and women empowerment is bidirectional, as per this report. The report defines this relationship as one aimed at improving the ability of women to access health, education and earning opportunities amongst other markers of development.

It furthermore states, “In one direction, development alone can play a major role in driving down inequality between men and women; in the other direction, continuing discrimination against women can hinder development beyond comprehension. Empowerment of half of the population, in other words, can accelerate development holistically.”

SBI Ecowrap also mentions that of the total 45.2 crore PM Jan Dhan Yojana (PMJDY) account holders till date, 55 per cent are women. The financial inclusion of women is also largely impacted by the “gender” of the agent or business correspondent. States like Tamil Nadu, Kerala, Arunachal Pradesh, Goa, Mizoram, Sikkim and Puducherry have more than 20 per cent women BCs, as per SBI.

It also highlighted the shortfalls of the business correspondents or BCs model that has taken centre stage in delivering financial services in rural areas across the country.

It explains that the number of BCs has shown a massive growth over the last few years but most of it has been contributed by the private sector. The report mentions that private sector has shown “lower commensurate interest in the PMJDY accounts opening and adoption (less than 3 per cent).

This makes the interoperability of ecosystem/enabling infrastructure “unintentionally become payments accretive only” and fails to bring any meaningful value to account holders in driving financial literacy.

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