Friday, December 15, 2017

National Employment Policy of India

India has been one of the fastest growing economy of the World and has been termed as the growth engine of the future.

Despite this stellar performance on the economic front the situation of unemployment is India is pretty bad and is on towards a downward trajectory specially on account of excessive mechanisation and reduction of manual work.

Also technologies like Artificial Intelligence are further going to create a problem.

So it is expected that the Central Government is going to launch the First National Employment Policy of India in the Union Budget 2018.

The National Employment Policy is said to have a comprehensive roadmap outlined for all the employers and workers in a bid to create quality jobs across all sectors through economic, social and labour policy interventions.

National Employment Policy is said to broadly target Micro and Small Enterprises for job creation, will provide incentives to the employers, and will bring in reforms to attract employers.

However all these things are already happening through different policies of the government.

How the National Employment Policy will differ exactly from the current steps taken by the government can only be seen after the official government policy is out.

The problem of providing decent enough employment to 1 crore youth joining workforce every year requires a whole lot of innovation which is said to be addressed by this policy.

An official told The Economic Times, "The policy will moot fiscal incentives for employers across labour-intensive sectors to create more jobs as well as employees to get engaged in the organised sector as this would fetch them minimum wages and enough social security."

Few months back the National think tank of India - NITI AAYOG reported that more than unemployment, severe underemployment is what is troubling India more.

Unemployment means that you want a job you have a qualification but you do not have a job.

Underemployment means that you have a job but your efficiency and skills are not being properly employed and utilised.

National Employment Policy is said to be focussing on this issue in particular detail.

The article will be updated when further information regarding the policy is out.

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