New Delhi Feb 1 (IANS): The country's apex women's business body, FICCI Ladies Organisation (FLO), has welcomed the special cognisance towards women's empowerment in the Union Budget 2023-24, which was presented by Union Finance Minister Nirmala Sitharaman in the Parliament on Wednesday, terming it as 'highly encouraging'.

FLO national president Jayanti Dalmia said, "The announcement of a new savings scheme -- 'Mahila Samman Savings Certificate' -- for women with fixed interest rate of 7.5 per cent for a period of two years is a welcome step in this direction."

Asserting that women are at the centre-stage of India's robust economic growth and strong global position, Damlia demanded that the quantum of allocations for schemes relating to women must be increased and the nodal agencies for women in the country consequently have to be further strengthened.

"The Finance Minister also enhanced the maximum deposit level of the senior citizens' savings scheme from Rs 15 lakh to Rs 30 lakh, which is a great step," Dalmia said.

"This Budget is the first in Amrit Kaal and thus bears huge significance with 'Saptarshi' -- the seven priorities -- including inclusive development, reaching the last mile, infrastructure and investment, unleashing the potential, green growth, youth power and the financial sector," she added.