The World Bank releases Women, Business and the Law 2024 Report | Current Affairs | Vision IAS
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    The World Bank releases Women, Business and the Law 2024 Report

    Posted 06 Mar 2024

    Updated 27 Mar 2024

    2 min read

    • The Report measures the laws that affect women’s economic opportunity in 190 economies.
      • The assesses economies across 10 indicators: Safety, Mobility, Workplace, Pay, Marriage, Parenthood, Childcare, Entrepreneurship, Assets and Pension. 

     

    • Key findings of the report
      • It measures the gap between women’s legal rights on paper and reality.
        • Globally, women have just two-thirds of the rights of men in the workplace. 
        • Indian women have just 60% of the legal rights compared to men.
      • Women earn just 77 cents for every dollar paid to men.
        • Less than 20% economies adopted enforcement mechanisms to address the pay gap.
      • Nearly all economies performed poorly in Safety and Childcare
        • Women have a third of the legal protection they need from domestic violence, sexual harassment, child marriage, and femicide.
        • Women spend nearly 2.4 hours more a day on unpaid care work than men, much of it involving childcare.

     

    • Recommendations
      • Expand maternity and paternity leave provisions.
      • Enact legal mandate for equal pay, and lift restrictions on women’s work in industrial jobs.
      • Implement legally binding quotas for women on corporate boards.
      • Ensure equal retirement benefits for women, accounting for childcare related work absences.

     

    India’s initiatives for gender equality in workplace

    • The Code on Wages, 2019: It prohibits gender discrimination in matters related to wages and recruitment of employees for the same work or work of similar nature.
    • Maternity Benefit Amendment Act, 2017: It provides for maternity benefits and creche facility in every establishment having fifty or more employees.
    • Sexual Harassment of Women at Work Place (Prevention, Prohibition and Redressal) Act, 2013 (POSH Act).
    • Tags :
    • Women, Business and the Law 2024 Report
    • World Bank
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