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2016 Union Budget: The Impact on Job Creation

Published: March 01, 2016 In: HR Tech & AI

Job creation and infrastructure investment are critical for the country. The 2016 Union budget did not have any announcements that might have a direct impact on job creation but it did not disappoint also. Multiple initiatives launched can influence job creation and their fulfillment in years to come.

 A multiplier effect is due, with an increased investment in infrastructure. The effect will see a number of openings in most sectors one or two years down the line. The boost for entrepreneurship is going to continue and that will continue to create more jobs as we move ahead. The budget promises that 2,200 colleges, 300 schools, 500 government ITIs will have entrepreneurship education and training.

The 1500 skilling institutes and the digital literacy schemes are going to bring out latent talent in the job aspiring job seekers. There are already about 35 million jobs seekers registered on The National Career Service platform launched in July 2015. Employers looking for volume hiring front-line and entry-level staff will have an increased supply of quality talent.

Summing it all up, the Union budget has done well by focusing on infrastructure development, skill development, and the rural economy as it draws direct impact on job creation. Talview CEO, Sanjoe Tom Jose, while commenting on digital literacy and job creation scheme said,

“Imparting digital education to rural youth must be a continuous process and needs some persistence to blur the divide...This year's budget agrees with Talview's vision and mission of building technologies that help create equal opportunities for all job seekers and bridge the urban-rural divide."

Tags: HR Tech & AI

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