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Equal participation of women in the workforce can increase India’s income by 27%: IMF

15 Nov 2016 Evaluate

In what could be a morale booster for the nation, International Monetary Fund (IMF) Managing Director Christine Lagarde has said that India's national income would increase by 27 per cent if the participation of women in the workforce matches the level of men.

Lagarde said that 'Empowering women can be an economic game changer for any country. For instance, if women were to participate in the labour force to the same extent as men, national income could increase by five per cent in the US, nine per cent in Japan, and 27 per cent in India.'

The IMF chief noting that across the globe women were still facing a triple-disadvantage and are less likely than men to have a paid job, said only half of the world's working-age women were employed. If they do find paid employment, it is more likely to be in the informal sector. And if they eventually get a job in the formal sector, they earn, on average, three-quarters as much as men -- even with the same level of education, and in the same occupation.

She added that better opportunities for women also promote diversity and reduce economic inequality around the world and said governments have a key role to play when it comes to economic incentives that provide women a fair shot in the labour market. She said 'We need to promote affordable childcare, parental leave, and workplace flexibility. We need to increase women's access to finance and remove legal barriers that still exist in most countries.'

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