In today’s business and social world, the role of women in the economy of India cannot be neglected at all. Women play their role towards the` betterment of economy in a number of ways. Besides the fact that, women are too important in the social framework, we witness other roles of women too. A large part of all the agricultural activities rely on women; women protect the Indian heritage; Women are the ones responsible for a major part of the savings made; Handicrafts and weaving industry in India is largely relying upon women; All the household tasks are also performed by women. All these facts clearly show how important women are in Indian society and women’s contribution to the economy.
Savings and the women
Students of economics know that savings lead to capital formation, which leads to capital investment. This invested capital, then contributes to the growth of the economy. The growth rate of India lies between 8 and 9 percent, and this is owing to the contribution of women towards savings. Savings in the Indian society are 1/3 of its GDP, and the commendable fact is that 70% of this saving comes under the umbrella of household savings. Household savings are only made possible due to the efforts of the Indian women.
Women and the Agriculture
According to the facts and figures of the year 2005, the total number of women, which contribute to the Indian economy in one way or the other, is about 147 million, out of which 106 million take part in the agricultural activities. Women are the ones who take care of all the traditional procedures of agriculture and contribute 63 percent to the whole agricultural production.
The economic by the contribution women in Indian can be signified through a small example. The minimum wage rate for women in Indian agriculture is Rs. 100/day. The women are paid less by the amount of Rs. 93000 crores per year. So this means that women are subsidizing the economy by an amount of Rs. 93000 crores per year. This enables the authorities to provide food at affordable prices.
What problems do they face?
Despite their immensely important role in the economic development of the country, women are facing severe problems in the Indian economy. Women in Indian society do not enjoy any financial security.
Although the GDP growth rate of India is 9%, and women are able to subsidize the cost of agricultural products by Rs. 93000 crores per year, we see that 52% of women face the problem of malnutrition. When the whole of the nation enjoys subsidized food, the actual producers of the grain remain deprived of it.
Lack of recognition
Much of the work done by women is not put in black and white in the official statistics. It is truly unjustified to ignore the large share of the contribution made by the women, as a large number of women are employed in several sectors such as laborers, domestic workers, and small traders. Official records must be gathered in this regard.
There is a substantial role of women in the Indian economy, and their contribution must be recognized with full appreciation. Women must be empowered and facilitated, so that their productivity may be increased.