Budget 2019 India expectations: The "India Skills Report", predicts an optimistic and positive forecast in the "Hiring intent 2019".
Budget 2019 India expectations: While Jobs alert and Jobs in India continue to remain one of the most sought after queries, Prime Minister Narendra Modi has been under relentless pressure from Congress and other opposition parties to fulfill BJP’s pre-Lok Sabha elections 2014 promise on job creation in the country.
The “India Skills Report”, predicts an optimistic and positive forecast in the “Hiring intent 2019”. “In comparison to last year companies across 9 major sectors have predicted an increase of 15 per cent in their hiring numbers,” according to the report. The report predicts that while software and IT sectors are showing a positive outlook, Financial Services, Hospitality and Travel and Engineering and Automotive will see a significant increase in their hiring numbers.
The Skill India report says that most number of job announcements will be from sectors such as Banking Financial Services & Insurance, BPO, KPO & ITES, Core Sector (Oil & Gas, Power, Steel, Minerals, etc.), Engineering & Automotive (Auto & Auto Components), Manufacturing, others & Diversified, Pharma & Healthcare, Software, Hardware & IT and Travel & Hospitality (Including Aviation, Tours & Travels, Hotels). Companies will look to hire from education disciplines such as Undergraduate, ITI, Polytechnic, PG or Equivalent (MCA/MSC/MA/M.COM/CA/M.tech), Management or Equivalent- MBA, PGDM, Graduates, (BCA/BBA/B.COM/BSC) and Engineers (BE/B.Tech).
At an event late last year, Prime Minister Narendra Modi claimed that the ‘4th Industrial Revolution’ will provide more job opportunities. PM Modi said that India’s diversity, demographic potential, fast-growing market size and digital infrastructure have the potential to make India a global hub for research and implementation. PM Modi exuded confidence that artificial intelligence, machine learning, Internet of Things, blockchain and big data will take the country to “new heights”.
However, PM Modi’s assurance was rejected by Congress which alleged that over one crore jobs were lost in 2018 citing Centre for Monitoring Indian Economy (CMIE)’s report. The party said that during the 2014 elections campaign, the then Gujarat Chief Minister Modi had promised “Acche Din (good days), which included (providing) two crore jobs every year”.