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How does gender equality impact economic growth?

Gender equality, a multidimensional aspect encompassing economic, cultural and social dimension ensuring gender equality, has a significant role to play in driving economic growth.

The key point of world bank’s women business and the law 2019 report: –

  • 6 countries currently give women and men equal rights – an improvement from zero a decade ago; all European nations.
  • The Middle East and Sub Saharas nations are the poorest performing’s due to prevalent socio-cultural norms.
  • 7 billion women still legally barred from having the same choice of jobs as men.

67% of rejection happened as candidates were unable to make the eye contact. Check out Xamnation mock interview pack.

Importance of Gender Equality in economic growth: –

  • Women constitute half of the world’s population increasing their participation rate to that of men – raise in economic growth by 5%
  • Gender gap cost and economic dear (around 15% of the GDP in OECD countries).
  • Improving gender parity ensures more inclusive and sustainable growth.
  • Increased women participation in the business ensured organizational effectiveness and thus growth India’s scenario.
  • Constitute only 39% of the workforce, comprise almost 40% of agricultural labour but own only 9% of the land.
  • Share of women contribution to GDP – 17% global average – 37%.

Progress in terms of women’s participation in the labour force and their contribution to economic growth is visible. However, the change is slow and a lot more has to be done. Gender targeted policy making, encouraging women participation in the labour force are some steps to be taken. Intervention is needed to create the fundamental transformation

In the world, society conceives women’s role and responsibility.

Gender Wage Gap Still Prevalent in India.

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