Union Budget 2019 India: Government should look at the PPP model as a means to attract investment in setting up of world-class vocational centres where youth can train and be job ready.
Union Budget 2019 India: The finance minister Nirmala Sitharaman is known to take up challenges and deliver on it. In this new avatar, we expect her to address many concerns, solving which can accelerate the growth of startups in India. In the blue-collar space, the goal has to be helping people migrate from informal to formal economy. In this respect, three things can be done.
PPP model based vocational centres: Government should look at the PPP model as a means to attract investment in setting up of world-class vocational centres where youth can train and be job ready. These centres should be employment-driven rather certification focused. The reason many trained people find it difficult to land a job matching their skill set is that their training is not in line with the changing industry demand. We believe the govt should allocate budget for building such centres to increase employment opportunities.
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Policy support for nano entrepreneurs: The PM on multiple occasions has said that even a grocery store person employing three people is a job creator. All of us know such nano entrepreneurs are a route to creating local job opportunities as it is not possible for everyone to migrate to big cities in search of jobs. Thus, the policy framework should be designed to incentivise and encourage more nano entrepreneurs to start up. Simplify the company registration process and give them tax benefits for every job they create. Such initiatives will encourage more local job opportunities as migration from villages to big cities is not a long term solution for job seekers.
Source: Financial Express
