National Jobs Policy : Treasure Hunt

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[ To find the treasure , click away on the links ]

News Report Source : MoneyControl

National employment policy on the cards in budget 2018

The government in the next budget ( 1 ) might introduce a national employment policy ( 2 ) outlining a comprehensive blueprint ( 3 ) to generate quality jobs ( 4 ) in every industry.

Prompted by the rising unemployment ( 5 ) in the country, the government in the next budget might introduce a national employment policy ( 6 ) outlining a comprehensive ( 7 ) blueprint to generate quality jobs ( 8 ) in every industry.

The policy blueprint will be shaped by economic ( 9 ) , social ( 10 ) and labour policy ( 11 ) interventions, the Economic Times reported.

The policy is likely to be announced in the upcoming Budget, which will be the last one from the current Prime Minister Narendra Modi-led government before general elections ( 12 ) in 2019.

The employment policy ( 13 ) will have many sides and applications ( 14 ) .

It will incentivize employers ( 15 ) to create more jobs ( 16 ) , introduce economic reforms ( 17 ) appealing to companies along with supporting the medium and small scale industries ( 18 ) which provide a huge chunk of jobs ( 19 ) , a senior government official told ET.

Over 10 million youth ( 20 ) join the workforce ( 21 ) every year.

But there are not enough jobs ( 22 ) to engage them and thus, the unemployment issue ( 23 ) has risen to the extent of electoral importance ( 24 ) —used by opposition parties ( 25 ) to attack the Modi-led government.

The job generation ( 26 ) speed faced a six-year low in 2015 as only 135,000 new jobs were created compared to 421,000 jobs in 2014 and 419,000 in 2013, as per a quarterly industrial survey ( 27 ) conducted by the Labour Bureau under the labour ministry ( 28 ) .

Another significant aim of the policy would be to engage more workers ( 29 ) in the country’s organised sector ( 30 ) because that would get them minimum wages ( 31 ) and social security ( 32 ) , the government official told the newspaper.

The policy could actually be impactful in this regard as over 90 per cent of workers in India are engaged in the informal sector ( 33 ) and hence, does not benefit from any social security law or minimum wage ( 34 ) rule.

The government is closely assessing the labour conditions and employment trends ( 35 ) in the country in order to lay out specific targets ( 36 ) and set up a monitoring system ( 37 ) .

The things the government is looking at include demographic composition of workers ( 38 ) , employment challenges ( 39 ) in different sectors, and the overall macroeconomic condition ( 40 ) .

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