Economic Survey 2020: Follow China-model to create jobs; here’s how govt can attack unemployment

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January 31, 2020 2:29 PM

Economic Survey 2020: Nearly 2.62 crore new jobs are created in rural and urban areas of India in the last six years.

Budget 2020, Union Budget 2020 India, Budget 2020 India, Budget 2020-21, economic survey 2020, ECONOMIC SURVEY 2020Economic Survey 2020 India: To further boost new jobs in the economy, the new economic survey has suggested a model that China uses to impart employment to its humongous population.

Economic Survey 2020: Finance Minister Nirmala Sitharaman today presented the Economic Survey 2020 that stated nearly 2.62 crore new jobs are created in rural and urban areas of India in the last six years. With the increased jobs, the share of regular wage or salaried employees has increased by 5 percentage points from 18 per cent in FY12 to 23 per cent in FY18. To further boost new jobs in the economy, the economic survey has suggested a model that China uses to impart employment to its humongous population. “The current environment for international trade presents India an unprecedented opportunity to chart a China-like, labour-intensive, export trajectory and thereby create unparalleled job opportunities for our burgeoning youth,” the survey said.

Introducing a new campaign “Assemble in India for the world”, it said that integrating it into Make in India can create 4 crore well-paid jobs by 2025 and 8 crore by 2030. The survey stated that the general education improves knowledge of the people while skill training enhances their employability and equips them to tackle requirements of the labour market.

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Highlighting the development in the female workforce, the survey said there is an 8 per cent increase in regular employment of women in 2017-18 over 2011-12. Further, to enhance the employability of female workers, the government is providing training to them through a network of women Industrial Training Institutes, National Vocational Training Institutes and Regional Vocational Training Institutes, the economic survey added.

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Prime Minister Narendra Modi had promised 2 crore jobs every year in the past that took a hit after demonetisation and a slowdown in the global and domestic market. However, the new economic survey has mentioned that along with efforts for generating additional employment, special focus has been on improving the quality of jobs and formalisation of the economy.

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