Women-centric policies need to deliver progress that’s tangible and enduring

A few years ago, during a field visit, I met two women whose stories stayed with me. Lakshmi, an entrepreneur, had the skill and ambition to expand her small lacquer bangle business, a craft passed down by her father. But every bank she approached demanded collateral she didn’t have. 

In another town, I met Bushra, a promising young engineer with a job offer that could change her life—but she hesitated to accept it. The long commute through unsafe streets and the unease in her family led to the unspoken question: Was the opportunity worth the risk?

Both women faced barriers that had nothing to do with their talent—and everything to do with the system around them.

Also Read: Mint Quick Edit | Daily time use: We must bridge the gender gap

Where women stand: According to the World Bank , women earn 77 cents for every dollar a man makes, globally. Gendered earning gaps exist across regions, corporate hierarchies and industries, including those that one would think women dominate. For instance, in the US, men in teaching and nursing jobs often receive higher wages, despite the workforce being predominantly female. 

At the highest levels of corporate power, women remain the exception, not the norm; they hold just over 10% of the CEO roles in Fortune 500 companies. In India, the participation of women in the country’s workforce has long been one of the world’s lowest. Although the government’s Periodic Labour Force Survey shows that it rose from 23.3% in 2017-18 to 41.7% in 2023-24, it remains below the global level.

Among working women, the additional burden of unpaid labour, such as caregiving and domestic work, plays a large role in hampering their ability to advance professionally. Viral images of women cradling their babies at meetings and workers breastfeeding between tasks are often praised as examples of dedication. But grit cannot replace workplace dignity, nor should ‘doing it all’ be celebrated as a triumph when it highlights a lack of support systems for working women.

Also Read: Rahul Jacob: Working for women bosses is a privilege one must treasure

Women-centric reforms in the budget: Usually, women don’t lack capability; they lack capital and access. Despite their potential, women-led micro, small and medium enterprises (MSMEs) account for only 20% of such businesses but receive 7% of overall MSME loans. Banks remain cautious lenders, since women frequently lack collateral. Financial awareness gaps also prevent many women from applying for credit. 

The budget for 2025-26 has several measures to tackle these barriers, such as collateral-free loans of up to ₹2 crore for first-time women entrepreneurs. Also, the Mission Shakti budget has been increased to expand crisis centres, helplines and fast-track courts, acknowledging the urgency of making system-level changes to address the security concerns that influence women’s mobility, professional choices and economic independence. This could lead to quicker justice, stronger legal deterrence and improved support systems for survivors of gender violence.

But India’s record on such initiatives suggests that funding isn’t the issue, execution is. The Nirbhaya Fund, meant to strengthen women’s safety, saw more than a quarter of its allocation of ₹7,212 crore till 2023-24 go unspent. 

Policies, no matter how well designed, must move beyond paper to achieve impact. Women’s participation in the economy is directly linked to safety. A society where women feel secure will see higher female economic participation, greater entrepreneurship and a stronger economy on the whole.

Also Read: Manu Joseph: A right that women don’t have is the right to mediocrity

Make policy work: We need to prioritize a few things. Awareness must not be an afterthought. Women must actively be kept informed through digital, print and grassroots campaigns. Moreover, access to capital must be accompanied by mentorship, market insights and competitive upskilling to ensure that women-led businesses thrive. 

Also, the use of funds must be tracked in real-time, even as strict accountability measures are enforced, with penalties for inefficiency. Investing in rigorous tracking systems will not only help monitor fund deployment, but also measure outcomes with clarity, thereby transforming policy commitments into tangible progress.

Also, public-private partnerships must move beyond rhetoric. Corporates and civil society organizations must step up, co-invest in women-led businesses and create safer and better workplaces.

For all this to be effective, policy implementation must be decentralized. State and district-level authorities must be equipped to adapt programmes to local contexts. No woman should be overlooked, especially not anyone from a marginalized group.

Also Read: Women entrepreneurs need a tribe of their very own

The final test: Intent alone won’t drive impact. Budget allocations must deliver results. Lakshmi had vision, Bushra had drive and the budget promises them opportunity. But will capital reach Lakshmi before red tape stifles her dreams? Will safety assurances let Bushra step forward or will fear still dictate her choices?

Indian women are not short of ambition, but governments must move beyond allocation to action, institutions must deliver with urgency and society must demand more than promises. The question isn’t whether these policies will reshape the future. The question is—will we let them fail?

The author is assistant vice president, research and communication at Sambodhi Research & Communications.