The Union Budget 2017 is expected to create more job opportunities for youth in tourism, footwear, leather and textile industry, impetus on infrastructure and government’s focus towards the manufacturing sector expected to create more jobs in manufacturing sector. Experts predict that this budget will boost jobs creation as the government’s focused on digitization, transparency in governance & politics, upliftment of women & youth, quality of education, rural India. While the government proposed corporate tax relaxation in small and medium enterprises expected to boost unorganized sector in Tier II and Tier III locations. However the government’s initiatives towards investments on infrastructure, including roads, highways and airport going to create more jobs in the sector. The rise in growth of digital payments industry is also expecting more jobs creation in the payment industry.
Impact of budget on jobs creation
Finance minister Arun Jaitley announced some result oriented measures to maximize the employ ability potential of the youth and providing skill development training to 3.5 crore youth across the country. While presenting the budget, FM Jaitley mentioned “”energizing youth through education, skills and jobs” as one of the government’s 10 important focus areas”. The government also proposes to increase Pradhan Mantri Kaushal Kendras to more than 600 districts across the country. Another programme SANKALP (Skill Acquisition and Knowledge Awareness for Livelihood Promotion Programme) was designed to train 3.5 crore youth with a cost of Rs.4000 crore. Jaitley mentioned that vocation training based programme STRIVE (skill strengthening for industrial value enhancement (STRIVE) will be launched in 2017-18 across all it is to strengthen the apprentice programmes.