Abstract

Economic empowerment of women leads to the growth and development not only of women but of their families and economy as a whole. The level of economic equality and strength are the major indicators of a woman’s status in the society. Research conducted, so far, has revealed that economic independence of women and their bargaining position within the family is highly associated as it provides women the strength, power and influence in decision making and gives her access to income and resources. The benefits of education, sound health and good living ultimately depend upon the economic condition of the family. Women account for only one third of global labour force. Globally women on an average work more than men and do nearly two and a half of unpaid care and domestic work. Economic empowerment can lead to true gender equality and fulfilment of the 5^th Goal of the 17 Goals of Sustainable Development aimed to boast a long sustaining, fair and equitable society. The need of the hour is to empower women economically and enhance their talent for utilization of the betterment of the community. Women’s involvement in the informal economy and their integration with the formal economy can go a long way in this direction. It becomes imperative for policy makers, national and international organizations and executing agencies to be gender friendly and take cognizance of women’s economic needs.

This paper is an attempt to examine the essence of empowering women economically and identify the reasons for their poverty and dependence and the ways and means of helping them to gain access and control over resources of the society. It reviews the status of women’s week bargaining power within and outside the society at national and global level; as women’s problems in terms of dependence and poverty are the same throughout the world. Further an attempt has been made to highlight women’s unpaid care work and for making it equally rewarding and measurable in terms of money so that their labour within the domain of home can add value to their work and make it economically visible and productive. The paper identifies the hurdles that curb women’s opportunities to participate in paid jobs, highlights various strategies for economic empowerment of women and suggests concrete steps that would prove fruitful in addressing this issue. The adverse affects of economic dependence of women and benefits of economic empowerment have been highlighted on the basis of available data.