Distinguish between ‘care economy’ and ‘monetized economy’. How can care economy be brought into monetized economy through women empowerment?
Distinguish between ‘care economy’ and ‘monetized economy’. How can care economy be brought into monetized economy through women empowerment?
The care economy refers to unpaid or underpaid work centered on caregiving and domestic activities, often performed by women within households. In contrast, the monetized economy comprises economic activities that are accounted for in GDP and involve market transactions.
Distinction between Care Economy and Monetized Economy
| Aspect | Care Economy | Monetized Economy |
|---|---|---|
| Nature of Work | Unpaid domestic and care-related tasks (e.g., cooking, childcare) | Market-based goods and services exchanged for money |
| Valuation in GDP | Not included in GDP or national accounts | Directly contributes to GDP and national income |
| Gender Composition | Largely female-dominated, often invisible and unrecognized | Male-dominated historically, but more gender-diverse now |
| Workplace | Performed mainly at home or within communities | Performed in formal/informal markets (factories, shops, offices) |
| Regulatory Framework | Lacks formal regulation, contracts, or wages | Covered by labor laws, minimum wage, and other protections |
| Social Perception | Seen as a moral or familial duty rather than economic contribution | Viewed as productive economic participation |
| Time Investment | Women in India spend an average of 4.5 hours/day on unpaid care work | Men spend an average of 0.5 hours/day on unpaid care work (NSO 2019) |
How Care Economy Can Be Integrated into Monetized Economy through Women Empowerment
1. Recognition and Measurement of Unpaid Work
- Conduct regular Time Use Surveys to value unpaid work.
- India’s first comprehensive Time Use Survey (2019) revealed the gender disparity in unpaid care work.
- Adoption of satellite accounts to reflect this contribution in GDP, as done in countries like Australia and South Korea.
2. Expansion of Paid Care Work
- Formalize sectors like child care, elderly care, and domestic help by creating certified, paid positions.
- Example: States like Kerala are investing in Anganwadi modernization, enhancing paid employment for women.
3. Upskilling and Certification of Domestic Workers
- Through Skill India and Domestic Workers Sector Skill Council, caregiving roles can be professionalized.
- Example: NSDC programs are training women in geriatric care, hospitality, and child services, turning unpaid care into paid employment.
4. Women-Led Microenterprises and Cooperatives
- Empower women to create income-generating services based on care-related skills.
- Example: Kudumbashree (Kerala) supports women’s SHGs in running community kitchens and daycare centres, integrating care work with the market economy.
5. Policy and Legal Reforms
- Extend social security and labor protections to informal caregivers.
- Example: The e-Shram Portal is aimed at registering and protecting unorganized workers, including domestic help.
6. Gender-Sensitive Infrastructure
- Investment in public transport, water supply, and sanitation reduces women's time on unpaid tasks.
- Example: Ujjwala Yojana has saved hours of firewood collection, indirectly freeing women for economic activities.
7. Encouraging Men’s Participation in Care Work
- Promote shared household responsibilities through awareness campaigns and workplace policies.
- Example: Scandinavian countries offer paternity leave, promoting gender equity at home and enabling women’s entry into the monetized economy.
8. Gender Budgeting
- Allocate specific funds to empower women and reduce unpaid workload.
- Example: The Union Budget's Gender Budget Statement supports schemes like PM Matru Vandana Yojana and ICDS, which professionalize care roles.
Recognizing and integrating the care economy into the monetized framework is essential not just for gender equity but also for inclusive and sustainable economic growth. Empowering women through education, skilling, infrastructure, and institutional support can help convert invisible labor into formal employment and GDP contribution.
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