#NoJobs In India: PM’s Promise Of 1 Crore Jobs Annually Far From Reality
Job market is facing a grilling time and the jobs are far and few. Job creation has fallen to a 8-year low level with only 1.35 lakh jobs been created between January-December 2015
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Prime Minister Narendra Modi is far from fulfilling his promise of creating 1 crore jobs annually. And this could well turn out to be his biggest challenge for 2019 elections.
Modi came to power 3 years ago after promises of job creation, skill development and reducing inequality among the masses.
Job market is facing a grilling time and the jobs are far and few. Job creation has fallen to a 8-year low level with only 1.35 lakh jobs been created between January-December 2015, according to the labour ministry.
Given the crunch time, job market is further expected to fall by 30-40 percent in the manufacturing sector compared to last year, according to TeamLease Services Ltd, putting a question on the ‘Make In India’ scheme.
Telecom and allied services, and energy are the two sectors that intend to hire the most, followed by hospitality, banking, insurance, travel, BPOs and automobiles. The opportunities and risks (in the above-mentioned sectors) could shift over time. Businesses that foresee and act on those shifts first will drive the competitive advantage in the coming months, as per the ManpowerGroup.
While automation is being accused of making some jobs redundant, it can also create new kinds of jobs. It is now more about finding creative ways to exploit and deploy promising new technologies.
Skill development has been talked about a lot for creating jobs and self employment. However, National Skill Development Corporation (NSDC) is able to place only 50 per cent of the total people it train— which shows the clear difference between inculcating skills and inculcating employable skills.
Data on NSDC, sourced from a Right to Information appeal, published by media reports, reveals that less than half of the candidates trained under NSDC got employment. Out of the candidates trained in 2016-17, just 48.4 percent candidates got jobs, while just 46.9 percent got jobs in 2015-2016. Even after indulging in skill development, employment remains a concern.