PMO To Review Country's Job Situation On Jan 12

The Prime Minister’s Office (PMO) is likely to hold a meeting on January 12 just ahead of the Union Budget to review the job situation in the country. It has also sought reports and data from various think tanks on fresh employment. The PMO, sources said, will examine data on new jobs that have been added in the last two years in various sectors and states. Senior ministers and government officials will be present in the meeting.

Sources said that Prime Minister Narendra Modi will personally review the situation. However, senior government officials said that the on-ground reports that have come in so far indicate that there has been “a satisfactory” increase in the number of fresh jobs, though thousands lost their jobs in the wake of the tight cash situation, especially in the unorganised sector. The country’s micro small and medium enterprises, which typically dealt in cash, had been the worst impacted by the demonetization drive, announced on November 8, 2016.

“Measures would definitely be taken to address the situation..the budget could spell them out,..there is a need to boost sentiments too,” a senior government official said. “Until sentiments are boosted (private) investments will remain mute,” he said, adding that this would be crucial for generating jobs.

The BJP-led NDA government has come under scathing attack from the opposition parties which have alleged that the country is experiencing economic growth without generation of new jobs.

The Niti Aayog has also underlined the need to chalk out a clear formula to expand higher employment across sectors. “There is an urgent need to address the situation (of creating new jobs), the issue is being discussed by all ministries and the PMO is set to look into it,” a government official, who did not wish to be identified told BW.

The Narendra Modi government came to power in 2014 with the promise or providing better employment opportunities for the country’s youth.

Mahua Venkatesh

BW Reporters Over 20 years of experience. Writes on finance, economic affairs, banking and insurance. Past gigs: Hindustan Times, The Financial Express, Business Standard.