NEW DELHI: Union finance minister Nirmala Sitharaman on Saturday challenged the notion that patriarchy hinders women’s progress in India, citing Indira Gandhi‘s rise as prime minister.
During her interaction with CMS Business School students in Bengaluru on Saturday, Sitharaman asked if patriarchy stopped women from achieving what they wanted in India, then how Indira Gandhi made it as prime minister. She discussed various Centre-backed initiatives, including 1 crore internships for ‘unemployable youth’ aged 21-24 years.

Addressing women empowerment, Sitharaman stated that patriarchy is a Left-invented concept. She encouraged women to be logical and self-assured, whilst acknowledging the need for enhanced facilitation for women.
Discussing innovation prospects, she highlighted the Modi government’s efforts to create a supportive environment for innovators. The minister emphasised that beyond policy-making, the government ensures market accessibility for innovations.
She highlighted the MSME support system, noting that 40 per cent of government procurement comes from this sector. “That is why we have more than 2 lakh startups today in India and more than 130 have become unicorns. The opportunity is immense but is not fully utilised,” she said.
Regarding digital banking transformation, she explained how Jan Dhan Yojana created opportunities for common people. She emphasised India’s government-funded approach to digital networks, contrasting it with other countries’ private sector-led initiatives.

“India’s approach to spreading digital networks was funded by the government, while many other countries went through private players, resulting in some nominal charges somewhere. Because of this, even micro-level users also access digital banking without having to pay for it,” Sitharaman said, adding that future growth necessitates continuous technological updates.

She detailed SIDBI’s ‘Fund of Funds’ initiative, supported by Rs 10,000 crore government funding, designed to assist small businesses and innovative ideas. She noted private equity participation, attracted by government concessions.
Regarding the new internship scheme, she requested students’ assistance in connecting the target audience with the platform to enhance youth skill development.