Job creation, unarguably, is one of the most critical issues facing not only the Indian economy but also the world as a whole. Several governments have been elected on the promise of jobs and thrown out of the power if the promises are not met. Job creation is critically important not only from economic point of view but also it has wider impact from social indicators to law and order. Bharatiya Janata Party (BJP) led alliance also won the election with a thumping majority in 2014 on the promise of according high priority to job creation. Prime Minister Narendra Modi led government has been working on several front to create employment opportunities, as has been the case with the previous governments.
Supporters as well as critics of ModiNomics agree that the target of $5 trillion economy is challenging but achievable. The issue is not just about achieving the target of a particular size of the economy. It's a wider issue of how do we achieve it and in the process what happens to the critical challenges that the country faces like poverty, inequality and jobs. The road to $5 trillion economy should be used to create a highway for reaching the next level of expansion, say $10 trillion and $20 trillion in a particular time-frame. Towards the end of 2018, India 2030: A Socio-Economic Paradigm book, published by SKOCH Group, pitched for $10 trillion target by 2030.
New Delhi, 22 September 2015: Despite losing in the national competition Gurgaon will be developed as a Smart City with state funds, Haryana Chief Minister Manohar Lal Khattar announced Tuesday at the 41st Skoch Summit.
Pradhan Mantri MUDRA Yojana (PMMY), which provides access to institutional finance (MUDRA Loans of <10L) to small business units and entrepreneurs, has led to 5.5 crore jobs in just over two years, addressing the most critical challenge facing the country. According to the survey titled 'MUDRA Scheme: a Game Changer Initiative on Job Creation', a total of 54,479,763 jobs have been generated through MUDRA. These include 37,753,217 direct jobs and 16,726,545 indirect jobs. The report was released at the 49th SKOCH Summit at New Delhi.
New Delhi, 22 September 2015: The government is in the process to accelerate reforms by pushing through crucial bills on land, GST, real estate and several other sectors, in the coming session of parliament, Minister of Urban Development M Venkaiah Naidu said at the 41stSkoch Summit on Tuesday.
Mumbai, 12th June 2015: Effective and credible institutions and a transparent ecosystem, especially in the areas of public procurement, infrastructure and services are essential to ensure long-term sustainable growth in India, Chairman of Competition Commission of India Ashok Chawla said at the 40th Skoch Summit here Friday.
The current round of economic slowdown in India can be attributed more to domestic factors rather than the global economic order, which is rebounding. Manufacturing has been the primary dampening factor. Which is why, the "Make in India" campaign is timely and needs to be implemented on a war-footing, points out Raj Kumar Ray