Women's Economic Empowerment & Gender Equality: Complete CSR Implementation Guide for Financial Literacy, Skill Development & Entrepreneurship

Financial literacy is an essential tool for women's economic empowerment—the knowledge and ability to understand and manage personal finances including budgeting, saving, investing, and managing debt. Responsenet believes that girl power is our country's true power and that empowering women is critical to India's progress. If women are healthy, free of violence, and have dignity, a better future for everyone can be built.

India has made remarkable progress—female labor force participation has risen from 23.3% in 2017-18 to 41.7% in 2023-24 (PLFS). With 10 crore women now part of 91 lakh Self Help Groups and the Lakhpati Didi initiative creating 2+ crore women earning ₹1 lakh+ annually, the momentum is building. Yet significant challenges remain—gender pay gap, occupational segregation, and limited access to credit demand sustained CSR investment.

Women's Economic Participation: Key Statistics (2025)

The Economic Case for Women's Empowerment

As per McKinsey Global Institute, India could achieve an 18% increase over business-as-usual GDP (US$ 770 billion) by providing equal opportunities to women. Despite 432 million working-age women in India (~45% of working-age population), their current contribution to GDP remains only 18%—indicating massive untapped potential.

• 📈 GDP Impact: World Bank estimates India's economic growth would rise by 1.5% to 9% annually even if just 50% of women entered the workforce. Companies with gender diversity outperform others by 15-35% (ILO 2022).
• 💰 SHG Credit Discipline: SHGs maintain loan repayment rate of over 96% (Economic Survey 2022-23). By February 2023, 8.9 million SHGs had availed loans worth ₹2.54 lakh crore. In 2023-24, loans worth ₹1.7 lakh crore disbursed.

Why Financial Literacy is Critical for Women

Closing the Gender Wealth Gap

Studies show women typically have less wealth and lower financial literacy levels than men. Women earn only ₹40 for every ₹100 earned by men (WEF Global Gender Gap Index 2024). India ranked 129th of 146 countries in economic parity at 39.8%. By improving financial literacy among women, we can help close the gender wealth gap and empower women to make informed financial decisions.

Building Financial Security

Financial literacy helps women plan for the future and make informed decisions. With greater financial security, women can pursue education and career opportunities, start businesses, and have freedom to make choices supporting their goals. Rural women LFPR has increased dramatically from 24.6% to 47.6% (2017-18 to 2023-24), indicating rising contribution to rural production.

Avoiding Financial Abuse and Exploitation

Financial literacy helps women recognize and avoid financial abuse and exploitation. Women who are financially literate are better equipped to spot red flags in financial transactions, protect their assets, and avoid falling victim to scams. Many women from rural households were previously indebted to moneylenders in the informal sector—financial literacy brings them to formal banking.

Supporting Families and Communities

Women are often primary caregivers in their families and communities. By improving financial literacy among women, we improve the financial well-being of their families and communities. When women invest in businesses, they invest in families and communities—enhancing education, health, and nutrition.

Persistent Gender Challenges Requiring CSR Intervention

Gender Pay Gap

• Women globally earn approximately 77 cents for every dollar earned by men
• In India: Self-employed men earn 3x what women earn; salaried men 1.2x more; casual workers 1.5x more (PLFS 2023-24)
• Urban areas: Men earn ₹26,105/month vs women's ₹19,879/month (PLFS April-June 2024)
• 67% of India's urban gender wage gap caused by direct discrimination

Employment & Occupational Segregation

• 76.9% of rural women remain in agriculture, with declining participation in industry and services
• Over 90% of employed women in informal sector without social security or legal safeguards
• Women in tech: only 24% in AI, 20% in Engineering, 17% in Cloud Computing
• Women in healthcare: 30% of doctors but 80% of nurses and midwives; only 22% in top tech positions

Access to Credit and Resources

• Women-led businesses make up ~20% of MSMEs but receive only 7% of total outstanding credit (RBI)
• Only 13% of women own agricultural land assets
• Only 22.5% of women with mobile phones use them for financial transactions (NFHS-5)
• 93.5% of women workers unable to access maternity benefits (informal employment)

Government Schemes: CSR Alignment Opportunities

• 💰 Pradhan Mantri Jan Dhan Yojana: 54.97 crore accounts opened (Feb 2025). 56% women account holders (30.6 crore). ₹2.52 lakh crore deposits. 67% rural/semi-urban. RuPay cards, accident insurance, overdraft facility. CSR can support financial literacy for effective usage.
• 👩‍🌾 DAY-NRLM & Lakhpati Didi: 10 crore women in 91 lakh SHGs. 2+ crore Lakhpati Didis created. Target: 3 crore by 2027. ₹6,000+ crore disbursed. Budget 2025-26: SHE Marts for women entrepreneurs. CSR can support skill training and market linkages.
• 🏭 MUDRA & Stand-Up India: MUDRA loans for micro-enterprises (Shishu, Kishore, Tarun categories up to ₹20 lakh). Stand-Up India: SC/ST and women entrepreneurs. Budget 2025-26: New scheme for 5 lakh women, SC/ST first-time entrepreneurs with ₹2 crore term loans.
• 🛡️ Jan Suraksha Schemes: PMJJBY: Life insurance ₹2 lakh at ₹436/year. PMSBY: Accident insurance ₹2 lakh at ₹20/year. Atal Pension Yojana: ₹1,000-5,000 monthly pension. CSR can support enrollment and awareness among women.

Viksit Bharat 2047 Vision: The government has set an ambitious target of 70% female workforce participation by 2047. FY21-FY23: Women-led MSMEs created 89 lakh additional jobs for women. 1.6 lakh startups identified under Startup India have generated 17.6 lakh jobs.

CSR Implementation Activities for Women's Empowerment

Financial Inclusion & Literacy

• Bank account opening and reactivation campaigns
• Debit/ATM card training and usage workshops
• Digital banking and mobile wallet training
• Transitioning women from informal moneylenders to formal banking
• Insurance and pension enrollment support (PMJJBY, PMSBY, APY)

Entrepreneurship Development

• Business planning, marketing, and financial management training
• Mentorship programs connecting women entrepreneurs with industry experts
• Access to microfinance and credit linkages
• Market linkages and e-commerce training
• SHG federation and cluster development

Vocational & Skills Training

• Tailoring, embroidery, and garment making
• Food processing and baking
• Beauty and wellness services
• Handicrafts, paper mache, and traditional arts
• Digital skills, data entry, and IT-enabled services

Policy Advocacy & Support Systems

• Advocating for gender-sensitive workplace policies
• Creating women entrepreneur networks and support systems
• Addressing social and cultural barriers through awareness campaigns
• Supporting access to government schemes (PAN, Aadhaar, MGNREGA, scholarships)

Responsenet's Champions of Hope Program

The 'Champions of Hope – Women Empowerment Skill & Livelihood Development Program' provides skill-based training to women from marginalized communities. Our skill development centers offer vocational courses including tailoring, knitting, paper mache, and baking—with modules designed by experts comprising theoretical and practical training.

🎯 Program Objectives

• Develop quality skilled workforce & women entrepreneurs
• Provide viable livelihood opportunities through skill training
• Facilitate work linkages with industries, markets, and schemes
• Enable personal growth and build identity
• Facilitate financial stability for food, shelter, education, healthcare

📍 Current Operations

Delhi locations: J.J Bandhu Camp, Kishangarh Village, Masoodpur Village, Kusumpur Pahari. Serving urban slum communities with migrants from Bihar, Rajasthan, UP, West Bengal, Tamil Nadu, Andhra Pradesh. Women in age group 16-18 years.

Our Vision: Establish skill centers in each state of India to provide employable skills and give birth to female nano entrepreneurs. We envision women rising to leadership positions, integrated into the formal economy—not settling for unsecured informal sector jobs. Long-term goal: Establish a seed fund to encourage women entrepreneurship in SHG Federation & Microenterprises Development.

Watch: Women's Empowerment Topics

Gender equality, health, employment, and education—key pillars of women's empowerment. Explore these insights:

Frequently Asked Questions (FAQ)

Q1: Is women's empowerment a valid CSR activity under Schedule VII?

Yes. Schedule VII of the Companies Act 2013 explicitly includes: (i) 'promoting gender equality, empowering women, setting up homes and hostels for women and orphans,' and (ii) 'livelihood enhancement projects.' This covers financial literacy programs, skill development training, entrepreneurship support, SHG strengthening, vocational training, and all activities that promote women's economic empowerment and gender equality.

Q2: What is the current state of female labor force participation in India?

India's Female LFPR has improved significantly from 23.3% in 2017-18 to 41.7% in 2023-24 (PLFS data). Rural FLFPR increased dramatically from 24.6% to 47.6%, while urban FLFPR grew from 20% to around 25.4%. Worker Population Ratio (WPR) for women rose from 22.0% to 40.3% in the same period. Female unemployment dropped from 5.6% to 3.2%. The Viksit Bharat 2047 vision targets 70% female workforce participation.

Q3: What is the gender pay gap in India?

According to WEF Global Gender Gap Index 2024, Indian women earn approximately ₹40 for every ₹100 earned by men. India ranked 129th of 146 countries with economic parity at only 39.8%. Per PLFS 2023-24: self-employed men earn 3x women's earnings, salaried men 1.2x more, casual workers 1.5x more. Urban monthly earnings: men ₹26,105 vs women ₹19,879 (April-June 2024). An estimated 67% of the urban wage gap is attributed to direct discrimination.

Q4: What are Self Help Groups and how do they empower women?

Self Help Groups (SHGs) are informal associations of 10-20 women from similar socio-economic backgrounds who pool financial resources for savings, lending, and joint economic activities. As of June 2025, 10 crore women are part of 91 lakh SHGs under DAY-NRLM. SHGs maintain >96% loan repayment rate (Economic Survey 2022-23). By Feb 2023, 8.9 million SHGs availed loans worth ₹2.54 lakh crore. SHGs promote financial independence, decision-making, leadership skills, and help tackle social issues like dowry and domestic violence.

Q5: What is Lakhpati Didi and how can CSR support it?

A Lakhpati Didi is an SHG member earning ₹1 lakh+ annually through sustainable livelihood activities (average ₹10,000+/month). It's an outcome of DAY-NRLM, not a separate scheme. Over 2 crore Lakhpati Didis created; target raised to 3 crore by 2027. Budget 2025-26 announced 'SHE Marts'—community-owned retail outlets for women SHG entrepreneurs. CSR can support: skill training, entrepreneurship development, market linkages, financial literacy, and capacity building to help more women become Lakhpati Didis.

Q6: How does Pradhan Mantri Jan Dhan Yojana support women?

PMJDY has been transformative for women's financial inclusion. As of Feb 2025, 54.97 crore accounts opened with ₹2.52 lakh crore deposits. 56% of Jan Dhan accounts (30.6 crore) belong to women. 67% are in rural/semi-urban areas. Features include zero-balance accounts, free RuPay debit cards with ₹2 lakh accident insurance, overdraft facility up to ₹10,000. It enables Direct Benefit Transfers (DBT) for 327 government schemes. CSR can support financial literacy to ensure effective usage of these accounts.

Q7: What are the challenges for women-owned MSMEs?

Women-owned MSMEs constitute 20.5% of Udyam registered MSMEs but contribute only 10.22% to turnover and receive just 7% of outstanding credit (RBI). Women-owned Informal Micro Enterprises represent 70.49% of UAP registrations. Key challenges include: collateral requirements (only 13% women own agricultural land), digital financial literacy gaps (22.5% use phones for transactions), limited market access (27% rural women entrepreneurs don't plan to sell produce, using it only for household consumption), and skill gaps (only 2% women in workforce age receive vocational training vs 8% men).

Q8: What financial inclusion metrics should CSR programs track?

Key metrics include: number of bank accounts opened/reactivated, debit/ATM card activation and usage, persons trained in digital banking/mobile wallets, persons transitioned from informal moneylenders to formal banking, insurance and pension enrollments (PMJJBY, PMSBY, APY), PAN and Aadhaar assistance, government benefit access (MGNREGA wages, scholarships, pensions), credit linkages facilitated, and progression from basic financial services to advanced products like mutual funds. Document women's journey from financial exclusion to economic empowerment.

Q9: What vocational skills have highest demand for women?

High-demand skills for women include: tailoring and garment making (large domestic market), beauty and wellness services, food processing and baking, healthcare support (nursing, elderly care), digital skills (data entry, customer service, content creation), handicrafts and traditional arts (export potential), retail and sales, accounting and bookkeeping, and hospitality services. The key is linking training to market demand and ensuring placement support. Responsenet's skill centers focus on tailoring, knitting, paper mache, and baking with industry-aligned curriculum.

Q10: How does women's education impact economic participation?

Education is transformative for women's economic empowerment. Per PLFS 2023-24: 39.6% of women with post-graduate education are working (vs 34.5% in 2017-18). 23.9% of higher secondary educated women in workforce (vs 11.4% in 2017-18). India's female literacy is 65.46% (2011 Census), up from 54.16% in 2001. Yet women make up only 28% of STEM workforce and only 18.6% aged 18-59 have received vocational training. Each year girls stay in school reduces chances of child marriage and improves employment prospects, health, and well-being.

Q11: What is the connection between women's empowerment and violence prevention?

Women's economic empowerment is closely linked to reduced gender-based violence. Financially independent women have more options to leave abusive situations. SHGs help women address social problems including domestic violence, dowry, and child marriage through collective action and awareness. Strong advocacy for women's rights is vital for achieving gender equality. CSR programs that combine economic empowerment with awareness on rights and legal recourse create more comprehensive impact. SDG 5 (Gender Equality) explicitly includes ending violence against women.

Q12: What policies support equal pay and workplace safety for women?

Key legal frameworks include: Equal Remuneration Act 1976 (equal pay for same work), Code on Wages 2019 (expanded equal pay provisions), Maternity Benefit Act 1961 (paid maternity leave), Sexual Harassment of Women at Workplace Act 2013 (POSH), and Companies Act 2013 (gender diversity policies). However, enforcement remains weak—93.5% of women workers are in informal employment without access to these protections. CSR can advocate for implementation, support women in understanding their rights, and work with companies to adopt gender-sensitive workplace policies.

Q13: How do SHGs contribute to SDG achievement?

SHGs are recognized as multi-sector platforms for SDG delivery. They directly contribute to: SDG 1 (No Poverty) through income generation, SDG 2 (Zero Hunger) through food security, SDG 5 (Gender Equality) through women's empowerment, SDG 8 (Decent Work and Economic Growth) through enterprise development, and SDG 10 (Reduced Inequalities) through financial inclusion. Research shows SHG membership improves women's control over income, decision-making over credit, and involvement in community groups. SHGs help women achieve not just economic but also social and political empowerment.

Q14: What is the Kshamta Initiative and how does it empower women?

Responsenet's Kshamta Initiative has trained 42,500+ women with 28,300+ establishing sustainable livelihoods—achieving an impressive SROI of ₹4.87 for every rupee invested. The program focuses on skill development, entrepreneurship, and livelihood enhancement for women from marginalized communities. It demonstrates that investing in women's economic empowerment delivers multiplier effects on families and communities. Women trained under Kshamta have gained financial independence, improved family nutrition and education, and become role models in their communities.

Q15: How does Responsenet implement women's economic empowerment programs?

Responsenet provides comprehensive women's empowerment implementation: financial literacy and inclusion programs, entrepreneurship training and mentoring, vocational skills training (tailoring, baking, handicrafts), SHG strengthening and federation support, market linkages and placement support, access to government schemes (Jan Dhan, MUDRA, Jan Suraksha), addressing social barriers through awareness campaigns, creating women entrepreneur networks, and monitoring and impact assessment. Operating across 24 states and UT with 17+ years experience, impacting 1.5+ million lives. We aim to establish skill centers in every state to create female nano entrepreneurs.

Empower Her. Transform Communities. Build India.

Investing in women's empowerment is not only a task but a moral obligation to humanity. Partner with Responsenet to implement financial literacy, skill development, and entrepreneurship programs that create Lakhpati Didis and transform communities across India.