Facilitate Post-Covid Recovery For Jobs In India

Employment generation was the key focus across multiple interventions proposed by the Union Budget; the production linked incentive scheme alone has the potential to create 60 lakh job opportunities

- Sekhar Garisa, CEO, Monster.com

UNION BUDGET 2022 has been centred on economic growth and post-Covid recovery of India. While the government was facing monumental pressures owing to the advent of the third wave and rise in inflation, it dug its heels in and released a sensible plan that focused on generating future income and employment. Rightfully so, the government focused more on investments and incentives than concessions.

The Budget has set the tone for India to become the next economic power house and ensured that adequate benefits and required cover were provided to the youth, farmers and protected tribes. Healthcare, farm economy, digitisation, infrastructure and the revival of the MSMEs were undoubtedly the primary focus.

Primary Focus - Employment

Employment generation remained the focus across multiple interventions proposed by the Union Budget. The provisions laid down under PM Gati Shakti would unlock a wealth of potential to provide employment to a populous country such as India. The capital expenditure push of Rs 7.5 trillion would create a multiplier effect in accelerating the seven engines of growth and open avenues of employment. The Production Linked Incentive (PLI) scheme alone has the potential to create 60 lakh job opportunities across 14 sectors including some of the sectors hit hardest by the pandemic such as pharmaceuticals, medical devices, large-scale electronics manufacturing, food products, solar EV modules, automobiles/auto components, ACC battery, and textile products.