With the Government putting strong emphasis on job creation, experts said measures proposed in the Union Budget can help create 5-8 million jobs in the next 3-4 years across various sectors…
Human resource experts welcomed the Budget and believe the sectors that are likely to see an immediate job creation are infrastructure, transport, power, consumer goods, e-commerce, startups and tourism. “India today needs a boost for job creation. Our manufacturing sector in particular needs a push for job creation,” Finance Minister Arun Jaitley said. Jaitley further said growth in infrastructure and construction sectors is necessary to revive the economy and generate jobs for millions of our young boys and girls. The manufacturing sector is of paramount importance for the growth of our economy and this sector has multiplier effect on creation of jobs and announced various incentives to facilitate investments in the sector, Jaitley added.
“The early indications looks like this Budget is pro- reforms and growth focused with a clear long-term strategy for getting back the growth momentum. I expect the Budget to have a positive impact on the job market,” leading job portal Naukri.com Executive VP and National Head Sales V Suresh said. “We believe the Budget has addressed a lot of areas that ushers well for the job market. We expect that the new Budget will help in the creation of 5-8 million jobs across sectors,” Kelly Services India & Malaysia MD Kamal Karanth said. “In Budget there has been a boost to the social sector, raised FDI in defense, up gradation of railway system and infrastructure and this will create large pool of the job opportunity across varios sectors as most of these sectors will have interconnected co-relation with other industries,” leading search organisation GlobalHunt MD Sunil Goel said. Goel further said these limited reforms should create more than 5 lakh job across the country in next 1-2 years.
“Infrastructure, power, transport and consumer goods will see an immediate hike in hiring needs. There is increased confidence in these sectors and the sops offered to companies will prop most hiring managers to swoop in on talent quickly,” Antal International Network MD Joseph Devasia said. However, creating jobs is only one part of the equation as workers must also have the skills to perform them and with over 12 million youth joining the workforce each year, bridging the skill gap is a critical issue facing the nation. The Government also announced the launch of a national multi-skill programme — ‘Skill India’, that will skill the youth with an emphasis on employability and entrepreneurship.
65% Professionals Believe Budget Will Revive Growth, Employment
As many as 65 per cent of respondents have positive expectations from the Budget and believe that it will succeed in giving a definite push to economic growth and job creation, a survey has said…
According to a snap poll conducted byHeadHonchos.com, a job search portal for mid-management and senior professionals, 65 per cent of respondents carry positive expectations, while 31 per cent are not overly optimistic, holding the belief that while some sectors will gain, it will take more than the Budget to kick-start growth. Only 4 per cent of respondents hold a pessimistic view and have indicated that the Budget will have no positive impact at all.
“The underlying sense seems to be that business-friendly policies will boost growth, paving the way for job creation,” the survey noted. Though the impact of policy changes will play out over a few years from now, the positive mood is a good start in itself “bringing back confidence and setting the tone for constructive change”, it said. On the eve of the Budget, the wishlist ranged over a wide set of issues from curbing inflation to cutting the subsidy bill, offering tax incentives, pumping up investment in infrastructure, ensuring fiscal prudence and cutting the waste in Government spending. “From a sectorial perspective, we anticipate that there will be large investments in the infrastructure space which will result in the creation of additional jobs, including the Fixed term contract hiring jobs,” Kelly Services India & Malaysia MD Kamal Karanth said.
“We see immense potential for job creation in the power sector. With the plans of FDI in e-commerce, a lot of sectors including FMCG and BPO are expected to witness a huge traction in hiring at entry level,” Karanth added.