Narendra Modi govt creates 2.75 lakh jobs, 118% jump y-o-y between Jul-Dec, 2014

The Narendra Modi government seems to have done right on one count—employment generation.

narendra modi news
Prime Minister Narendra Modi shakes hands with his Netherlands counterpart Mark Rutte before a meeting in Hyderabad House in New Delhi on Friday. PTI

The Narendra Modi government seems to have done right on one count—employment generation. A labour ministry survey found 2.75 lakh job created between July and December 2014, a 118% year-on-year increase—in the same period in 2013, just over 1.2 lakh jobs had been created. Given the government’s Make-in-India initiative focuses on creating jobs in 25 sectors, the rise in employment numbers are an indication of a good beginning. The government, however, will have to undertake many steps, including skill-development of 12 million youth entering the workforce each year, if the momentum is to sustain.

As per the finance ministry’s annual report for 2014-2015, the growth rate of the labour force will outstrip that of the country’s population till 2021.The key challenge, therefore, would be improving the employability of the youth, and for this, the need is of skilling (including upgrading existing skill-sets) of 500 million individuals by 2022. While the National Skill Development Corporation—that has been tasked with skilling 150 million youth in partnership with the private sector—so far it has skilled a little over 5.1 million and has managed to get just over 1.5 million placed. Though, given the duration that NSDC has been around, that is impressive, it is still a far cry from the target.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express Telegram Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.