Racing to the bottom

Job stagnation is manifesting itself in the growing demands from influential castes to compete for jobs reserved for historically marginalised groups

Employment, or the lack of it, has been a front-page issue long before Budget FY25 revealed the government’s grudging and belated recognition of the problem. Economists (openly) and private sector chiefs (privately) agree that the three employment-linked incentive schemes and an internship programme outlined in the Budget are unlikely to be game-changers. As the Big Idea in this year’s budget exercise, however, it reflects the pressure that is increasingly being imposed on the private sector to do the heavy lifting on the employment front. Meanwhile, joblessness and the inadequate creation of good quality jobs are accelerating a