PM announces new measure to improve labour market

Prime Minister Narendra Modi on Monday announced that recruitment scores for government jobs will be made available to the private sector, as a new measure to improve the labour market and benefit the unemployed.

"Finally, let me turn to the major steps we have taken in the area of generating employment. This is one of my highest priorities," the prime minister told the Bloomberg India Economic Forum 2016, held here to commemorate the media group's 20 years in India.

According to Prime Minister Modi, government and public sector undertakings (PSUs) conduct a number of recruitment examinations and so far, the scores in these examinations have been retained by the government.

"Hereafter, we will make available the results and the candidate information openly to all employers, wherever consent is given by the candidate," the prime minister elaborated.

"This will create a positive externality. It will provide a rich data base which can be used by private sector employers as a ready-made and objective sourcing and screening mechanism."

The prime minister emphasised, that the new measure will reduce search costs in the labour market for both employers and employees.

"It will enable better matching of candidates from labour surplus areas with jobs in other regions," the prime minister added.