Job market to spurt on startup India

Tags: Jobs

Companies Act will have a cascading effect with youngsters becoming job creators rather than job seekers

The Budget 2016-17 has put the right focus on job creation in more ways than one, including through skill development, massive thrust on digital learning at different levels, encouraging startups and so on, experts have said.

“With 8.33 per cent contribution for all new employees for the first three years, this year’s budget has created incentives for employers to create more formal jobs. It, however, fall short of ensuring that the youth gets more in hand. The outlay around skills and education needs active private sector participation and the proposed industry connectivity, something which we shall eagerly look forward to. The fiscal policies around startup India initiative are highly commendable and will be responsible for creating quality jobs in India. The plan to employ India is getting clearer, now it’s time to execute.”

Neel Ratan, partner and leader (government and public sector), PwC, said, “The move to foster a culture of startups with the much-awaited amendment to Companies Act will have a cascading effect with youngsters becoming job creators rather than job seekers, constructively channelising the energy of India's youth and catapulting nation to the league of developed nations. National career service is emerging as a robust go-to-portal for job seekers, the move to inter-link national career service with state employment exchanges will eliminate bottlenecks and fast track the filling up of job vacancies. Moreover, the announcement of 100 model career centres for national career service portal will revive the traditional job search and massively add to the reliability of the portal, making it the preferred mode for searching jobs.”

The finance minister has actually taken a two-pronged approach towards job creation – ‘Skill India’ and ‘make in India’. As part of skill India, the Budget has lined up plans to launch a mission to provide digital literacy to around six crore additional rural households. "


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