Page 2 - Job Creation

Budget 2025: Modi govt to seek to revive growth, ease cost of living

Economists expect the budget to ease the burden on individuals through tax cuts on income and energy products and to build on the $24 billion programme of job creation schemes

Budget2025: Invest in infra, startup, EdTech to create jobs, say experts

The government should provide investments and incentives in infrastructure, hospitality, startup ecosystem, EdTech and MSME sectors in the General Budget to boost employment and skill development, say industry experts. Finance Minister Nirmala Sitharaman will present the General Budget 2025 in the Lok Sabha on February 1. On expectations from the forthcoming budget, Noormahal Group CMD Manbeer Choudhary said the hospitality sector in India plays a crucial role in job creation and is one of the largest contributors to the economy. The Union Budget 2025 could be pivotal in enhancing the industry and significantly contributing to the vision of a USD 3 trillion tourism GDP by 2047, he added. Choudhary stated that one of the longing demands is granting industry status to the hospitality sector, as this recognition could lead to improved access to finance, regularised policies, and a more strategic approach to tourism development. The special allocation for infrastructure development, .

172 mn jobs created during 2014-24; 46 mn in FY24: Mansukh Mandaviya

He also highlighted that there has been tremendous growth in youth employment and a reduction in unemployment rates, as evidenced by the latest PLFS

Formal sector new hirings drops 20.8% in Oct, EPF additions hit 7-month low

"The increase in female member additions is indicative of a broader shift towards a more inclusive and diverse workforce"

Job creation slows in unincorporated sector in 2023-24: NSO report

This is according to the latest factsheet titled 'Annual Survey of Unincorporated Sector Enterprises (ASUSE)' released by the National Statistical Office (NSO) on Tuesday

Karnataka govt approves 9 industrial projects worth Rs 9,823 crore

The Karanataka government on Monday approved nine industrial projects with a total investment of Rs 9,823.31 crore, which are expected to create approximately 5,605 jobs. The projects were approved at the 64th meeting of the State High Level Clearance Committee (SHLCC), headed by Karnataka Chief Minister Siddaramaiah. While three of these are new investment proposals, the remaining six involve expansions or amendments to existing plans. According to an official statement, the approved new projects include DN Solutions India Private Limited's Rs 998 crore investment at the ITIR, Devanahalli, expected to create 467 jobs; Silectric Semiconductor Manufacturing Private Limited's Rs 3,425.60 crore project at Kochanahalli, Mysuru, aimed at generating 460 jobs; and Sansera Engineering Limited's Rs 2,150 crore project at Harohalli, which is estimated to create 3,500 jobs. The six expansion or amended projects with total investments worth Rs 3249. 71 crore is expected to create 1178 ...

Indian investments creating jobs for Americans as well: Eric Garcetti

Our collaboration has also led to some new pinnacles of economic integration. And the stats speak for themselves, said Garcetti

AIFs can play critical role in job creation: Former Sebi chief Sinha

Former Sebi chairman U K Sinha on Tuesday said alternative investment funds can play a crucial role in helping the economy meet the challenge of job creation. The career bureaucrat who served as the Sebi chairman for six years said there are other challenges confronting the economy as well, but singled out jobs as a critical function where AIFs can be of help. "Going by many of the macro data that we have, there are problems in our economy today, for example on employment generation," Sinha said while addressing a CII event on AIFs here. "The AIF industry does not exist for itself. It has to serve a larger purpose," said Sinha, who is widely credited to have played an important part in the AIF industry by introducing regulations on the aspect during his tenure as the Sebi chief. He said the AIF industry, which has invested around Rs 5 lakh crore as of now, reminds him of the mutual fund industry of 2012. The AMCs had Rs 6 lakh crore of assets under management and were also facing

Indian tourism sector to double to $523 years in 10 years: WTTC chief

The Indian tourism sector is expected to double in size to USD 523 billion in the next 10 years, according to World Travel and Tourism Council (WTTC) President and CEO Julia Simpson. WTTC works with governments on issues of the travel and tourism industry, and is the global authority on the economic and social contribution of the sector. The travel and tourism sector employs 45 million people in India, and is going to double in its value. In 10 years, the sector is going to be worth USD 523 billion in India, more than double the present size of USD 256 billion, Simpson told PTI in an interview. In 10 years, the tourism sector in India will be providing jobs to 63 million people, she said. India is one of the most beautiful and amazing countries in the world, Simpson said. Tourists and visitors across the centuries have been attracted to its shores and wonderful cities. India continues to welcome the world with open arms and the Indian hospitality is incredible, she added. Tourism

Here's how India is sacrificing its growth and why it needs to stop

In the absence of meaningful private investment and job creation, India is slipping back into its pre-Covid-19 rut, and its economic czars are once again publicly refusing to acknowledge the slowdown

Services PMI falls marginally to 58.4 in Nov, job creation improves

Business confidence leads to 'hiring surge' as input costs rise to the 'greatest extent' in 15 months

New cottage and rural industries policy to create 1.2 mn jobs in Gujarat

The Gujarat government announced on Wednesday its new cottage and rural industries policy, offering higher loans and subsidies to artisans and entrepreneurs to set up units in the state. Minister of Cottage Industries Balwantsinh Rajput, who unveiled the policy in Gandhinagar, said it will facilitate the creation of nearly 12 lakh jobs over five years. The new policy was introduced after the five-year validity of the previous scheme ended, an official release said. The New Cottage Policy 2024, which will remain in force for five years, aims to develop a self-sustaining cottage industry sector and open the doors of local and international markets for artisans, the minister said. Under the policy, the state will work towards the availability of credit and market support to artisans and focus on infrastructure, skill, technology upgrades and innovation, Rajput said. To encourage new industries and businesses, the state government has increased the maximum loan amount under this schem

Job, wealth creators must not feel 'heat of system': VP Jagdeep Dhankhar

Those in commerce and business must not feel "heat of the system" as they are the job and wealth creators and contribute to social harmony, Vice President Jagdeep Dhankhar said on Sunday. He also said that the principle of "economic nationalism" was more important than fiscal gains of a few individuals. Addressing an event of a private educational institution here, Dhankhar said he has always advocated that "those in trade, commerce, industry must not feel heat of the system. They must have respect in society". The vice president was of the view that this segment was the job and wealth creator and contributes to social harmony. "They are economy drivers ...They have learned the art in this country to give back to the society. By and large they do it," he said while noting that the freedom movement of India is dotted by their contribution. The vice president also underlined the need to follow the principles of economic nationalism, whereby unnecessary imports can be curbed to save

Here's why South should worry about bringing more people, not more babies

Thankfully, neither Stalin nor Naidu is proposing regressive policies in order to push the birth rate back up. What the two leaders should do is think more closely about why exactly they're so worried

AI will both create and destroy jobs: EAC-PM member Sanjeev Sanyal

Member of Economic Advisory Council to the Prime Minister (EAC-PM) Sanjeev Sanyal on Wednesday said that artificial intelligence (AI) will both create and destroy jobs and a lot depends on how it is adopted. Speaking at the Bharat Chamber of Commerce at an interactive session, Sanyal claimed AI will impact highly skilled people and functions will be disintermediated. "There is a lot of noise about AI. A lot will depend on how we adopt it. A debate is going on within the government and the public. If we don't adopt it, we will get wiped out", Sanyal said. He claimed that the existing people in high-skilled areas would be disintermediated while jobs would be both destroyed and created. "One area where AI will certainly make an impact is education," the economist said. Citing an example, he said people will listen to lectures on video-streaming websites and use AI chatbots to answer questions. "So, students would no longer need to go to colleges except for some collaborative work. .

Govt's big job plan: Labour ministry to announce new employment schemes

The labour ministry is expediting discussions with various stakeholders about employment-linked incentive (ELI) schemes

States call for employment data creation, focused approach for quality jobs

Several states on Monday called for creation of employment data and adoption of a focused approach for creating quality jobs. The suggestions were made at the fifth regional meeting of the Union Ministry of Labour and Employment with all states and Union Territories. The meeting focused on discussions around labour reforms, the e-Shram portal, building and other construction workers (BoCW), and employment generation, reflecting the government's commitment to inclusive development and welfare of all sections of the workforce, the Ministry of Labour & Employment said in a statement. Timely and regular submission of employment returns and job fair details to the Directorate General of Employment through the modules on the National Career Service portal were also discussed, it said. Besides, adopting a consultative and consensual approach to framing state reform was also discussed in the meeting, the ministry said. Union Minister of State for Labour & Employment Sushri Shobha ...

Karnataka aims to double GCCs to 1,000, creating 350,000 jobs by 2029

A draft policy launched by Karnataka includes various incentives for foreign firms including reimbursement of rental costs, assistance with patent fees, and exemptions from certain duties

Japan's new PM likely to pledge more spending to support economy, growth

The winner of the Liberal Democratic Party's (LDP) leadership race, scheduled on Sept. 27, will become next prime minister due to the party's control of parliament

Will ELI scheme fix India's jobs crisis? A comprehensive rethink needed

The proposed employment incentive scheme is a commendable start, but it risks worsening India's employment problem