Union Budget 2018 for Women, things to cheer

Union Budget 2018-19 has been very focused on the problem areas like agricultural, corporates, employment and most importantly well being of Indian citizens ( medical, LPG, supporting money for TB patients etc). However, Hive parenting team looking keenly to highlights the benefits for women here is some of the key ones you must know

More money to take home:

Lower EPF mandatory deductions from 12% to 8%

Earlier 12% of your basic salary used to be deducted and deposited EPFO account, now that’s reduced to 8%. Which means more money will be left in hand of the women employee. However, the employer will still remain same, without much impact on your total retirement savings. But this is only for new joiners.

Wellbeing

Free gas connections

3 crore families got free LPG in 2017, this budget will increase the numbers to 8 crores families. This targeted to provide free LPG to families and women in need. This is really very positive move to improve the cooking conditions of many rural women.

More Money for women self-groups

Finance ministers had promised to allocate more funds for women self-groups. This is been an effective mode of helping women to get micro finances and research also mentions the best way manage NPA.

Women entrepreneurs

More fund for MUDRA

The central govt’s MUDRA YOJANA is a scheme provides booster loan for first-time entrepreneurs from 10 lakhs – 50 lakhs with no collateral security. Interestingly 76% of beneficiaries are women. This budget has announced to allocate additional Rs 3 lakh crores. This means more entrepreneurs will get benefitted. Maybe time to think to start something of your own.

Make in India!!

Imported goods to get more expensive

To support Make in India imported mobile phones, cars, television sets, gold, silver, diamonds, gemstones, perfumes, silk and imitation jewelry, among others, will get expensive. So watch out before you pay… make consider Make in India ones 😊