Job Creation

In the absence of meaningful private investment and job creation, India is slipping back into its pre-Covid-19 rut, and its economic czars are once again publicly refusing to acknowledge the slowdown

Business confidence leads to 'hiring surge' as input costs rise to the 'greatest extent' in 15 months

The Gujarat government announced on Wednesday its new cottage and rural industries policy, offering higher loans and subsidies to artisans and entrepreneurs to set up units in the state. Minister of Cottage Industries Balwantsinh Rajput, who unveiled the policy in Gandhinagar, said it will facilitate the creation of nearly 12 lakh jobs over five years. The new policy was introduced after the five-year validity of the previous scheme ended, an official release said. The New Cottage Policy 2024, which will remain in force for five years, aims to develop a self-sustaining cottage industry sector and open the doors of local and international markets for artisans, the minister said. Under the policy, the state will work towards the availability of credit and market support to artisans and focus on infrastructure, skill, technology upgrades and innovation, Rajput said. To encourage new industries and businesses, the state government has increased the maximum loan amount under this schem

Those in commerce and business must not feel "heat of the system" as they are the job and wealth creators and contribute to social harmony, Vice President Jagdeep Dhankhar said on Sunday. He also said that the principle of "economic nationalism" was more important than fiscal gains of a few individuals. Addressing an event of a private educational institution here, Dhankhar said he has always advocated that "those in trade, commerce, industry must not feel heat of the system. They must have respect in society". The vice president was of the view that this segment was the job and wealth creator and contributes to social harmony. "They are economy drivers ...They have learned the art in this country to give back to the society. By and large they do it," he said while noting that the freedom movement of India is dotted by their contribution. The vice president also underlined the need to follow the principles of economic nationalism, whereby unnecessary imports can be curbed to save

Thankfully, neither Stalin nor Naidu is proposing regressive policies in order to push the birth rate back up. What the two leaders should do is think more closely about why exactly they're so worried

Member of Economic Advisory Council to the Prime Minister (EAC-PM) Sanjeev Sanyal on Wednesday said that artificial intelligence (AI) will both create and destroy jobs and a lot depends on how it is adopted. Speaking at the Bharat Chamber of Commerce at an interactive session, Sanyal claimed AI will impact highly skilled people and functions will be disintermediated. "There is a lot of noise about AI. A lot will depend on how we adopt it. A debate is going on within the government and the public. If we don't adopt it, we will get wiped out", Sanyal said. He claimed that the existing people in high-skilled areas would be disintermediated while jobs would be both destroyed and created. "One area where AI will certainly make an impact is education," the economist said. Citing an example, he said people will listen to lectures on video-streaming websites and use AI chatbots to answer questions. "So, students would no longer need to go to colleges except for some collaborative work. .

The labour ministry is expediting discussions with various stakeholders about employment-linked incentive (ELI) schemes

Several states on Monday called for creation of employment data and adoption of a focused approach for creating quality jobs. The suggestions were made at the fifth regional meeting of the Union Ministry of Labour and Employment with all states and Union Territories. The meeting focused on discussions around labour reforms, the e-Shram portal, building and other construction workers (BoCW), and employment generation, reflecting the government's commitment to inclusive development and welfare of all sections of the workforce, the Ministry of Labour & Employment said in a statement. Timely and regular submission of employment returns and job fair details to the Directorate General of Employment through the modules on the National Career Service portal were also discussed, it said. Besides, adopting a consultative and consensual approach to framing state reform was also discussed in the meeting, the ministry said. Union Minister of State for Labour & Employment Sushri Shobha ...

A draft policy launched by Karnataka includes various incentives for foreign firms including reimbursement of rental costs, assistance with patent fees, and exemptions from certain duties

The winner of the Liberal Democratic Party's (LDP) leadership race, scheduled on Sept. 27, will become next prime minister due to the party's control of parliament

The proposed employment incentive scheme is a commendable start, but it risks worsening India's employment problem

Ola Founder Bhavish Aggarwal is placing bold bets on new-age technologies with a view for India to be at the forefront of the current global tech transition led by AI, and build jobs of the future in the country. In an interaction with PTI editors at the agency's headquarters here, he said the private sector has to do the bulk of job creation, step up and do more, while creating an enabling environment and correcting imbalances, such as that of trade, are the responsibility of the government. Aggarwal also supported the government's move to offer fiscal incentives to global EV makers, including Tesla, through the new EV policy saying it is important for India to attract all kinds of investment, and globally established players will help in the development of the EV ecosystem in the country. The group's newly-listed entity Ola Electric aims to make India a global electric vehicle (EV) hub but the country has to invent an EV and energy transition paradigm for itself based on its needs

Maharashtra Chief Minister Eknath Shinde on Thursday said MoUs of Rs 5 lakh crore were signed in the last two years under his government, which will create 2.5 lakh jobs. In his address after hoisting the national flag here, Shinde said Maharashtra's contribution will be big in achieving the dream of 'Viksit Bharat' (developed India). Policies of the state have to be aligned accordingly, he said. "Maharashtra's development ranking had slipped as compared to other states. There was a challenge to bring the state's economy on track and the state government has done it effectively," Shinde said in his last Independence Day event speech as the state chief minister in this term as the assembly elections are likely to be held in October or November this year. "Be it instilling confidence among investors, industrialists or common man, we have effectively demonstrated it," he said. "In the last two years, Memorandum of Understanding (MoUs) worth Rs 5 lakh crore have been signed, which ...

The Tamil Nadu Cabinet on Tuesday gave its approval for 15 investment proposals of a total value of Rs 44,125 crore that are expected to generate over 24,700 jobs in the state. The 16th cabinet meeting chaired by Chief Minister M K Stalin at the secretariat here also granted its nod to three renewable energy policies as part of a goal to achieve 20,000 MW power generation by 2030, according to Finance Minister Thangam Thennarasu here. Emerging from the meeting, Thennarasu said that on August 17 the chief minister would be inaugurating a first-of-its-kind-in-India industrial housing facility for 18,720 employees of Foxconn built at an estimated cost of Rs 706.5 crore at SIPCOT Vallam Vadagal industrial estate in Sriperumbudur, Kancheepuram district. The cabinet gave its nod for projects covering various sectors including electronics, food processing, motor vehicles and battery manufacturing. A pump storage policy, a small hydel policy and a wind repowering and life extension policy

Currently, MoSPI releases labour force data for urban areas in the form of PLFS quarterly, while for rural areas it is brought out annually

The policy and a vision document for Viksit Chhattisgarh will be released on November 1, marking the state's foundation day

Only those employers that hire 50 non-EPFO-enrolled workers, or 25 per cent of its previous year's EPFO employees, will be eligible

Nudges pvt sector on jobs, cautions on AI; sees GDP growing by 6.5-7% in FY25; makes a case for FDI from China

Share of agriculture in workforce will decline from 45.8 per cent in 2023 to one-fourth in 2047, it says

India Inc chiefs see measures for rural economy