A recent report by the State Bank of India research highlighted a correlation between the financialisation of women and rise in their voter turnout.
“If we map the change in female voter-turnout during 2024 and 2019 with change in number of female deposits accounts during 2023-2019, the results indicate a high correlation of 0.95. In otherwards, financialization of women voters leads to the rise in women voter turnout during 2019-2024,” it said.
From March 2019 to March 2023, women’s share in the number of accounts in banks has increased by 5.4% to 38.1%, the report revealed.
While in terms of amounts, the share increased by 6.3% to 38.8%, it said.
In the period under review, the report stated that the 30.97 crore accounts pertaining to women were added.
Among these, the highest was in Uttar Pradesh at 4.18 crore, followed by Delhi at 3.32 crore.
Higher female voter turnout in poorer state than richer states
The report further said that it has been estimated that states with higher per capita Net State Domestic Product (NSDP) found to be less female voting in elections, signifying higher female voter turnout in poorer state than richer states.
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The relationship has smoothened in compared to 2019 when states with Rs 1 higher per capita NSDP saw 26 less women voting, to now only 19 lesser women in 2024, it said.
Interestingly, for every additional 100 male voters, there are 115 and 111 female voters in SC & ST constituencies, respectively, as compared to 105 additional females per 100 males in General constituencies.
So far, six phase polling has done with 486 constituencies covered. As per the Election Commission of India, the six phases of 2024 general elections happened so far with total 66% voter turnout.
The last phase of Lok Sabha Elections 2024 is scheduled for June 1, and the results will be announced on June 4.
