The number of women voters is projected to outstrip men voters in 2029 and this inflection point would be a testimony to the former getting their due share on socio-economic fronts and should be a harbinger of harmonized growth, according to SBI’s economic research department (ERD).

Per ERD’s projection, in 2047 (probable election year 2049), women voter turnout should increase to 55 per cent and men voter turnout might fall to 45 per cent.

ERD’s observed that universal suffrage seems to have reached an inflection point since 2014 going by the quantum jump in the percentage of women voters.

“In 2014, the voter turnout increased by a whopping 13.7 crore to 55 crore of which 26 crore were women. It was 5.5 times higher than the average voter turnout between 1962 to 2009. The same was 5.8 times for women and 5.2 times for men. In 2019, the voter turnout further increased to 62 crore, of which 30 crore were women,” per ERD’s analysis.

In 2024, total voter turnout at the current rate of polling could touch 68 crore, of which women voters could be at 33 crore /49 per cent.

In 2029, total voter turnout at the current rate of polling could touch 73 crore, of which women voters at 37 crore could be outstripping registered men voters at 36 crore / more than 50 per cent of registered voters, the ERD said in a special report.

Further, the historic and bold step of ensuring one-third reservation to women in the Lok Sabha and State Assemblies is expected to go miles in ensuring that policy-making at the highest levels promotes women-centric entrepreneurship 2.0, cutting across multiple barriers as the Top-Down approach makes local women more vocal across the nation.

The ERD emphasised that the contribution of women to the economy is always underestimated. Basis NSS data, our analysis indicates that the total contribution of unpaid women to the economy comes to around ₹22.7 lakh crore (Rural: ₹14.7 lakh crore and Urban: ₹8.0 lakh crore) which is almost 7.5 per cent of India’s GDP.

“Interestingly, there is a renewed resurgence of the innate strength and stake holding of women across the country, duly anchored by bold and pragmatic policy measures with visibility rising handsomely in electoral and voting patterns too, an area dominated by men henceforth.

“There seems to be a big revolution on the cards; women’s share is increasing in all the Government-sponsored schemes, data shows,” said Soumya Kanti Ghosh, Group Chief Economic Adviser, SBI.

Ladli Behna scheme and voter turnout

The report cited the implementation of the “MP (Madhya Pradesh) MukhyaMantri Ladli Behna scheme” as a prime example of women empowerment. This scheme provides financial endowment for women in the 21-60 age group to improve the health and nutritional status of women and children dependent on them, nudging women to be financially more independent and to have freedom in tune with their priorities.

“We understand the Ladli Behna scheme is a culmination of the multiple micro empowerment schemes initiated by the Central Government at population scale which have brought a tectonic shift in the ecosystem,” the report cited.

“...We estimate that one percentage point increase in the marginalised women targeted (receiving Ladli Behna), has increased the district-wise electoral success rate of the incumbent party by 0.36 per cent. Juxtaposing such into a district-wise electoral success rate, it can be said that every 1 in 8 constituency, on an average, had a favorable outcome (pro-incumbency) due to Ladli Behna / 30-35 seats in at least 8 districts,” Ghosh said.

Furthermore, a one per cent increase in the target of such marginalised women in a district has resulted in a 0.04 per cent increase in additional female voter turnout in 2023.

“Thus, around 70 per cent (~3.67 lakh) of additional female voters (~5.25 lakh) in 2023 MP elections voted are primarily attributable to Ladli Behna scheme...28 per cent success rate in 2018 of the incumbent party in closely contested seats turned into 100 per cent in 2023,” Ghosh said.

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