70 years after Independence, India may finally get its first employment policy by Modi government!

From past 1-2 years, the Congress is continuously attacking Modi government on employment opportunity in the country. The Congress is spreading fake news that under Modi government the country has lost employment opportunities for youth and the Make in India initiative is of no use. But the statistical details have shown that the number of entrepreneurs and start ups have considerably increased since 2 years and small scale business have hugely benefited from the MUDRA yojana. The country has omproved int position in ease of doing business which was a major boost to foreign investments.

Now the Modi government has gone a step ahead to bring out a comprehensive plan that will create quality jobs in economic, social and labour sectors. The employment policy will be presented in the next budget which will outline the ways to create mass employment, attracting investments, helping the small and medium scale businessmen with friendly market policies and loans. The policy also aims to provide social security for all people.

The focus is to create jobs in the organised sector, in which currently there is only 10% workforce with an aim to scale up the number to 10 Million jobs every year. The organised sectors requires skilled labour, for which the Modi government is focusing on setting up training institutes in the country which can support the manufacturing sector. “The policy will moot fiscal incentives for employers across labour intensive sectors to create more jobs as well as employees to get engaged in the organised sector as this would fetch them minimum wages and enough social security,” said the government official to Economic Times.

The chairman of the national committee on industrial relations at the Confederation of Indian Industry MS Unnikrishnan said “Economic growth would need capacity building in infrastructure, commodities, manufacturing, consumer goods and services and each of these sectors will create new jobs and upgraded jobs. In light of this, we need to have a flexible employment policy that protects the interest of both employer and employee. This means it has to be viable and attractive for investors and provide for a social security system for our workers.”

The employment rate had fallen in the year 2015, after which it picked pace in 2016 before demonetization. But however the economy is still in the revival state after suffering huge loss in past 10 years due to bad loans and massive corruption. The government plans to revive this trend and is focusing on macroeconomic and microeconomic policies, demographic context which can monitor and play a corrective role in generating employment.

Credit: Economic Times

Aishwarya S