Monday, December 20, 2010

58 million jobs to be created till 2012 

The government seems confident that it would be able to create 58 million additional jobs by the end of the 11th Five Year Plan in 2012. The reason behind this is the recovery in the farm sector and this has had a positive impact on the rural economy. All this was told by the Labour Minister recently.

Since agriculture has shown quite a positive trend, the economy is expected to grow at nine percent in this fiscal year. The unemployment would be staying in control.
The minster said, "The real position will be known after data on employment and unemployment is released by the National Sample Survey Organisation."

Two thirds of the labour is directly or indirectly engaged in agriculture and the growth in this sector would definitely prove beneficial.

The gross domestic product (GDP) has climbed upto 8.9 percent each in the first two quarters.

The 10th Five Year Plan could not meet its target of creating 50 million additional jobs because manufacturing, tourism and agriculture sectors could not generate much employment

The labour ministry has put together a working draft of a new employment policy. Skilled manpower would be created which would be demanded by both public and private sectors. "The focus of the policy will be on employment generation and productivity with flexible framework of training," said the Labour Minister, Mr.Rawat.

Employment exchanges would now be modernized. It would be done with public-private partnership model. Accurate data on vacancies, skill set requirements etc would all be available online. Currently 37 million people are registered with employment exchanges.

Exchanges would also be providing counselling and would serve as a platform for employers to post their vacancies and gather information on available skill sets.

Source: The Economic Times

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