Union Budget 2024: Govts have limited impact on jobs

Policy reforms would work better than programmes or projects

The Budget announcements involve numerous elements aimed at the labour market, and it is indeed a major concern in India. Some of the new announcements might disappoint over the medium term. As we know from the production-linked incentive (PLI) scheme, the Indian state is not big enough to directly impact the economy. The path to potency for policymakers lies in improving the environment in which private firms create growth and employment; it involves more of policy and less of programmes or projects.
 

Consider the internship programme in the top 500 companies. The government desires that this will