Budget 2013 highlights: Rs 1,000 cr each for all-woman bank, Nirbhaya fund

The first spark in finance minister P Chidambaram’s budget came in the form of an announcement of all-woman banks across the country. Probably because no one had seen that coming. “Several women head banks today. Two women head public sectors banks in India at present. But can we have a bank which is run mostly by women. A bank which caters to women’s needs? A bank which helps fund entrepreneurial initiatives by women?” Chidambaram said during his Budget speech. [caption id=“attachment_643212” align=“alignleft” width=“380”]  Protests against the Delhi incident of gangrape. Agencies.[/caption] Following that he announced an allocation of Rs 1,000 crore as initial capital to start the first all-woman bank that employs women, helps fund enterprises started by women. This was also probably the first announcement that was welcomed with loud table thumping by even the unusual suspects - including the likes of Sushma Swaraj. The next sparkler came in the form of the Rs 1,000 crore Nirbhaya fund. Chidambaram urged the Ministry of Women and Child Development to figure out ways and strategies to utilise the fund in a way that it helps women be secure in public spaces. “When I think of the girl child I think of the young student, the sportswoman, the homemaker, the mother. Recent incidents have cast a long shadow on the liberal values of our country. As more and more women come out to work in the public space, the incidents of violence against them also seem to go up. We pledge solidarity with the girl and pledge to do everything possible to facilitate their safety. There are several government initiatives underway, more will be taken up by government and non-governmental organisations,” he said, before announcing the institution of the Nirbhaya fund. Prior to this, the finance minister had announced a Rs 200 crore-allocation to the Ministry of Women and Child Development to make sure that vulnerable women - single mothers, widows and suchlike - are taken care of and can live with dignity. In addition to that, the gender budget has Rs 97,134 crore and the child budget  has Rs 77, 236 crore.