New Delhi4 hours agoAuthor: Avadh Ojha
The youth of the country was expecting the Finance Minister i.e. Nirmala Sitharaman to give a booster dose to the jobs today, so that the future becomes bright. His as well as the country’s. The finance minister used the word employment or jobs only 4 times in the entire budget.
In the speech, the Finance Minister talked about giving stipend to 47 lakh youth for 3 years. He also announced the opening of 30 Skill India International Centers in the country to prepare youth for jobs in the international market.
First see 3 big announcements related to employment…
- ‘Pan India National Apprenticeship Scheme’ will be started to support 47 lakh youth, under this the government will give stipend/allowance for 3 years.
- ‘Unified Skill India Digital Program’ will be implemented, 30 Skill India Centers will be opened in different states.
- PM Kaushal Vikas Yojana 4.0 will be launched. Through this, on-the-job training will be provided.
Recruitment of 38 thousand teachers in Eklavya schools
Apart from these, it has also been said to provide employment to the tribes. In this, 38 thousand 800 teachers and support staff will be recruited for 740 Eklavya schools. However, in the budget of 2023, the Finance Minister did not discuss any distribution of jobs in Production Linked Incentive (PLI) and Self-reliant India Employment Scheme.
Now let’s talk about those announcements, in which the possibility of employment
- National Digital Library will be opened for students.
- 157 new nursing colleges will be opened. In these, teaching and supporting staff will be recruited.
- An Agriculture Accelerator Fund will be set up to help those starting startups related to agriculture.
- 6000 crore will be invested in the new sub-scheme of Matsya Sampada. The aim is to create new jobs.
- 10 thousand bio-input resource centers will be opened. Indirect employment will also be available in these.
- 500 cow dung plants will be built. In this, the residual will be made a source of income.
Now the analysis of Awadh Ojha…
- Saying employment 4 times means that there was not much emphasis on employment in the budget.
- To provide employment, the maximum focus will have to be on industry and infrastructure (I & I).
- Training is a very good thing. Look at Japan, it focused on skill development. Trended the youth, so that self-employment continues to increase along with employment. But our main issue is unemployment. No concrete steps have been taken for this.
- The government will train the youth, but how will their family run until they get a job. For the time being, how to deal with it is the challenge.
- One of the good aspects of employment in the budget is public participation. Local handicrafts will be promoted under PM Vishwakarma Vikas Yojana.
- Women startups will be encouraged, but the government will have to keep an eye on women’s participation directly.
- Progress is possible in India only because of farmers and youth. The government cannot shirk its responsibility by making an excuse of compulsion.
- The government has made a promise, now it has to fulfill it. So that he can tell people that he also fulfilled what he promised.
- The steps of the government are commendable, but their output matters. In the era of inflation, more jobs are needed than allowance, it will be a matter to be seen how much it will be on the actual ground.
After the budget, many things you need have become cheap and expensive too. However, GST came five years ago. Since then, it has become difficult to understand in the budget what will be cheap and expensive. Because now there is no question of direct tax here. There are some highs and lows in indirect tax. So, according to its effect, the calculation of cheap-expensive is done. You can read this effect here.
You have read that it is cheaper and expensive due to the effect of indirect tax… but also know how much tax the government has imposed on your income… income tax slabs have been reduced from 6 to 5, now income up to 7 lakhs is tax free. has been done. To understand the math of tax Click here
The Finance Minister read this budget in 1 hour, 27 minutes. Long enough. so in 23 points Click here to understand the budget of 2023.
Now let’s know what were the announcements in Budget 2022 regarding employment and what has happened to them so far…
Announcement of 60 lakh jobs in 5 years
- Announcement of 60 lakh jobs in 14 sectors within 5 years. Domestic products are subsidized under Make in India with this Production Linked Incentive (PLI) scheme of Rs 1.97 lakh crore.
what happened so far
- According to the Economic Survey released on 31 January 2023, in the financial year 2022, it was told that 3 lakh jobs were generated under the Production Linked Incentive (PLI) scheme.
16 lakh jobs in self-reliant India scheme
- Announcement of 16 lakh jobs under the Self-reliant India Employment Scheme (ABRY) implemented in October 2020.
what happened so far
- EPFO had said in the June 2022 report that between October 2020 and March 2022, 70.5 lakh jobs were given as against 50.9 lakh jobs fixed under the Self-Reliant India Scheme. This is 28% more than the target. However, EPFO did not release the annual data.
Unemployment rate decreased in January after reaching 16 months peak in December
According to the Center for Monitoring Indian Economy (CMIE), the unemployment rate in December 2022 stood at 8.3%. This was the highest in the last 16 months. Earlier in August 2021, the unemployment rate was 8.3%. According to the data released in January, it came down to 7.14%.
CMIE MD Mahesh Vyas says that due to the continuous increase in employment in recent months, employment is expected to reach 41 crore by December 2022. This is the highest employment level before the Corona epidemic i.e. after January 2020.
New enrollments in EPFO increased by 16.5% in November
According to the payroll data of the Employees Provident Fund Organization (EPFO), 16.2 lakh new members were added in November 2022. This is 16.5% more than last year i.e. November 2021. The Finance Minister told in his budget speech that in the last 9 years the members of EPFO have doubled, that is, about 27 crores.
There were 1.22 crore new enrollments in the financial year 2021-22. Between 8 months of the financial year 2022-23 i.e. April to November 2022, 1.05 crore enrollments took place. Data after this is not yet available. You can see the details in the graphics below…
28.55 crore laborers in 31 unorganized sectors Unorganized sector ie sectors in which less than 10 people work, such as general stores, farms, daily wage workers. According to the e-Shram Portal, till January 30, 2023, 28.55 crore laborers have been registered.
25 thousand layoffs in 67 startups in 2022
- According to the report of Layoff.fyi, 67 startups laid off 25,000 people. Big startups like BYJU’S, CARS24, Ola, OYO, Meesho, Udaan, Unacademy, Swiggy, Sharechat and Vedantu made layoffs.
- According to the report of Layoff.fyi, in January 2023, about 101 startups of the world have fired 31,436 employees.
More than a quarter of a million posts are vacant in the departments of the central and state government, how many posts in which department, know from the graphics…
Job growth expected in top 8 job sectors in 2023
In a report by LinkedIn India, it has been claimed that 25 sectors will provide maximum employment in 2023. LinkedIn derived some results based on the research done between January 2018 and July 2022, which shows which sector in which type of jobs are in high demand in 2023.
Also read these news related to Budget-2023…