Budget 2018: Modi government may announce incentives for employers who'll hire women

The stage has been set and tomorrow the Union Finance Minister Arun Jaitley will table the Budget 2018 before the parliament. 

The Union Budget 2018 hold relevance due to many reasons, it would be the first after the roll out of the Goods and Services Tax (GST) bill and also the last budget before 2019 general elections. 

With every sector eyeing on Jaitley's magical briefcase,  experts believe that the budget would be focussed on rural economy. Analysts also expect a tax cut to fulfil wishes of the salaries tax-payer. 

It is also expected that the goverment may announce big schemes to generate employment sector. 

Now, if various media reports are to be believed, FM Arun Jaitley may give emphasis on women’s employment. 

It has also been reported that the government might even give incentives to the women employers.

Citing sources, a report in Business Standard quoted that the government may announce reduced rates of deductions from women’s salaries for various schemes managed by the Employee Provident Fund Organisation. 

The new rate could be between 6 and 10 per cent.

The newspaper report also mentioned that the government may announce incentives for the employers who will hire more women employees. 

Currently, the employee provident fund deducts 12 per cent from employee’s salary for provident fund. The employer has to contribute around 10 per cent of the employee’s salary for various EPFO schemes.

The government is also expected to increase tax limit from Rs 2.5 lakh to Rs 3 lakh in a move to woo the salaried class. 

The government has already promised to double farmers' incomes by 2022. To fulfill this promise, rural and social spending may see heavy allocations.