Economic Empowerment- what is meaning by economic Empowerment- why is economic Empowerment important- what is social and economic Empowerment

BBA management topics Economics MBA Management Topics UG degree women's empowerment

Economic empowerment is the crying need of this hour. “Wage employment means economic power” (Elliott, 2008, p. 86). Through employment women earn money and it enables women and girls to become ‘bread earners’, contributing members of households with a strong sense of their own economic independence. “Economic empowerment is a powerful tool against poverty” (Biswas, 2010, p. 27). The Djakarta Declaration (1994) critically examines that, “empowerment of women is not only equal consideration; it was a necessary precondition for sustainable economic and social development.” Without economic self-sufficiency other rights and scopes remain meaningless to the people. Economic empowerment can be described as a means by which the poor, landless, deprived and oppressed people of all societies can be freed from all kinds of deprivation and oppression; can directly enjoy the benefits from markets as well as household; can easily manage a square nutritious food and fulfill basic requirements such as house, cloth, medicine and pure water etc. SEWA (Self Employed Women’s Association) has emphasized on the economic empowerment of women. It holds that raising voice and visibility is not possible unless there is an access “to the ownership of economic resources by the poor women.” Promilla Kapur (2001) observes that, “women’s empowerment could be described as a process in which women gain greater share of control over resources – material, human and intellectual like knowledge, information, ideas and financial resources like money and access to money – and control over decision making in the home, community, society and nation, and to gain power.” Economic empowerment gains through equal work opportunities, equal organizational benefits, equal treatments and equal working environment. Self Employed Women’s Association (SWEA) argues for women’s empowerment through the attainment of full employment and self-reliance of poor and rural exploited women. It holds that, “When there is a woman’s income, there is security of work; she has assets in her name, she feels economically strong, independent and autonomous” (The Kurukshetra, January 2005, Vol.53, No. 3, p. 39). Archana Singh (The Kurukshetra, April 2004, p. 33), through the article ‘Micro Finance For Women’s Empowerment’ also argues that, “Micro Finance is emerging as a powerful instrument for poverty alleviation in the new economy.” The term ‘empowerment’ has also been defined by Singh (ibid). She envisages that, “Empowerment is a process of change by which individuals or groups gain power and ability to take control over their lives.” In economic development, the empowerment approach focuses on mobilizing the self-help efforts of the poor, rather than providing them with social welfare. “Economic empowerment is also the empowering of previously disadvantaged sections of the population….”

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