India – Government reaffirmed stance to job creation for Budget 2017

By memberservices@staffingindustry.com (Danny Romero)

Finance minister Arun Jaitley has reiterated the government’s commitment to job creation while speaking during India’s annual Budget for 2017.

The budget targeted labour-intensive sectors such as the, apparel, leather and footwear sectors, proposing a stimulus package and announced investments in the transportation sector. Jaitley also mentioned tax breaks offered to micro, small and medium enterprises in manufacturing as well as start-ups. He also reiterated his government’s resolve to restart the labour law reform process to promote manufacturing.

“The budget is short on specific initiatives aimed at directly enabling job creation and accommodating millions of youth entering the workforce every year, “Moorthy K. Uppaluri, managing director of Randstad India, told LiveMint. From an overall perspective, some of the bold moves will further economic growth, resulting in job creation, depending on how well they are executed”.

The budget also underlined plans to develop the vocational skills of the young, especially in rural areas, and the need for labour law reforms to create a conducive atmosphere for job growth.

Source:: India – Government reaffirmed stance to job creation for Budget 2017