Is there a job or just a Jumla? Budget, 2018.
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Written By- Amar Bharat
Edited By- Richa Shukla
What haunts India is not the diseases but its incapacity to cure!
Employment not only generates money for betterment of family’s ecosystem but it leads potential population towards productive growth which in one hand satisfies consumer-client relationship while on other manages demand and supply for the entire humankind.
Loadjams of customer is not a rare thing to witness in the Indian ecosystem. Be it a hospital, Railway station, Bus-Stop, Court, Educational Institution, or whatsoever. (By Customer I mean ‘Service Seeker’ and by business I mean ‘anything in capacity to fulfil demand and supply) Service seeker are often harassed by countable service giver. The resultant is ‘greater demand with fewer employees leads to institutional suffocation’, which is a disease and the cure certainly is the job.
The government in power was empowered by its promises to create billions of job. Railway Minister through his tweet dated 29 October 2017 hails for creating 10 lakhs of additional Jobs in 5 years. His tweet reads as “Railways to invest $150 billion, create 1 million additional jobs in 5 years.”, that is the most acknowledged tweet of last year. However, if we compare the workforce in railway from 1 March 2014 to 1 March 2017, there has been decline in about 25 thousands of Jobs from the previous workforce and decline of 2 lakhs 25 thousands from the sanctioned workforce, which means irrespective of desirable workforce, government is unable to produce enough profit to generate job. The condition, if not taken care-of, could lead to institutional frustration. Institutional frustration is the point where entire machinery under-performances due to weaker work-force which is in-route to delay in the work, corruption and even collapse of the system.
Another story is about -‘You Can’t see me’ Exam. Govt. of Bihar announced vacancies for 2030 junior engineers on 7 Jan 2010. Lakhs of students aspiring to earn for living applied for exam and the result is yet to be announced. Many a times exam has been rescheduled.
Graduates in bangaluru, donning degree robes and selling “Modi Pakodas” in an attempt to protest over Jumla of Job creation in not-so-close PM Modi’s rally, were detained.
Is the government hiding its inability to create Job?
Budget 2018, is the most promising budget of all time with seven direct policies to create job.
Pindara opens-up with following gifts:-
- “In order to create employment and aid growth, Government’s estimated budgetary and extra budgetary expenditure on infrastructure for 2018-19 is being increased to Rs 5.97 lakh crore against estimated expenditure of Rs 4.94 lakh crore in 2017-18.”
- The two new initiatives under the Ayushman Bharat programme-setting up of 1.5 lakh Health and Wellness Centres and the flagship National Health Protection Scheme-are not only expected to address health care but also “generate lakhs of jobs, particularly for women”.
- The corporate tax rate has been lowered to 25% for companies with a reported turnover of up to Rs 250 crore in the financial year 2016-17. In last year’s budget, this benefit was limited to companies with a turnover of under Rs 50 crore.
- “It is proposed to set a target of Rs 3 lakh crore for lending under MUDRA for 2018-19 after having successfully exceeded the targets in all previous years,”. This is another step in the right direction. The Pradhan Mantri MUDRA Yojana, which provides access to institutional finance to small business units and entrepreneurs, has already led to 5.5 crore jobs since its launch in 2015 (as per a September 2017 SKOCH report).
- The government will contribute 12% of the wages of the new employees in the EPF for all the sectors-instead of a select few at present-for next three years. To incentivise employment of more women and to enable higher take-home wages, the Budget has also proposed to amend the EPF Act to reduce women employees’ contribution to 8% for first three years of their employment while the employer’s contribution will continue at 12%. The facility of fixed term employment moreover will now be extended to all sectors (instead of just apparel and footwear sector).
- A recent World Bank report had sent alarm bells ringing in the country claiming that over 30% of India’s population aged between 15 and 29 years are NEETs (Not in education, employment or training). Acknowledging this problem, the Budget has announced that the Government will set up a model aspirational skill centre in every district of the country under Pradhan Mantri Kaushal Kendra Programme. Over 300 centres have already been established for imparting skill training.
- “In the year 2018-19, for creation of livelihood and infrastructure in rural areas, total amount to be spent by the Ministries will be Rs14.34 lakh crores, including extra-budgetary and non-budgetary resources of Rs11.98 lakh crores. Apart from employment due to farming activities and self-employment, this expenditure will create employment of 321 crores person days”
These words come straight from our Finance Minister bestowed to promise a better tomorrow. For I wish these promises to accomplish, let’s then hope to challenge one the most acknowledge quote “Tomorrow Never Comes”.