GOOD START ON JOB CREATION BUT MORE STEPS ARE NEEDED

ENDING years of handwringing, the NDA government has finally decided to tackle the issue of high unemployment in the country.

- 

Last week, presenting Budget 2025, Finance Minister Nirmala Sitharaman gave job creation the greatest shot of adrenaline, rolling out five new schemes with an unprecedented outlay of ₹2 lakh crore. The proposed package is expected to facilitate employment and provide skilling for over 4 crore youth over the next five years. The schemes have several moving parts, but broadly, they are aimed at fresh hires, who are being lured with direct cash transfers, and employers, who are rewarded with monthly EPFO reimbursements for two years for every additional employee added to the workforce. Then there are initiatives to incentivise job creation in manufacturing, besides programmes to enhance skilling, women w