Sankalp – Union Budget summit, this time seems to be devoted for developing an employment route for Indian job seekers, especially covering a large scale unskilled population.
Arun Jaitley, initiating his budget speech on 1 st Feb accommodated the concern of making India, an employment driven economy by planning a major share of govt expenditure to skill development.
He also quoted to equip more funds to employment programs like Sankalp “Skill Acquisition & Knowledge Awareness Program ” to provide market training to more than 3.5 Cr youth and helping them for generating self employment oppurtunites.
Budget key youth education and Skill development plans
With a total allocation of upto Rs 4000 cr to Skill development Ministry govt major policy expenditure focuses on :
Forming alienate annual performance measuring system for secondary schools and Colleges.
Major contributions would be allocated to innovation and regional funds for ensuring better amenities to govt schools and colleges .
Developing More than 100 skill centers , covering all major courses of interest and education in foreign languages .
Centers for people, for getting connected with e-programs like Swayam and DigiGaon for skill enhancing e-learning courses.
Establishing a National Testing Agency for holding entrance exams in future & freeing educational bodies from such responsibility .
Targeting govt spending on STRIVE ( Skill Strengthening for Industrial Value Enhancement) for improving better training method of ITIs and ensuring better apprenticeship programs.
Extension of Pradhan Mantri Kaushal Kendras (PMKK) to 600 districts which presently constitute to train only in 60 districts.
Allocating up-to 4500 Cr to Deendayal Antyodaya Yojana – National Rural Livelihood Mission helping low income families giving a livelihood sustenance option with skill development .
Sankalp – Budget Welcomes Indian Startups
Indian economy is always in a need of continuous supply of skilled workers ,presently more than half of the rural population is unskilled and is engaged in
unorganized sector or agricultural activities due to lack of proper education facilities.
While innovative ideas of skilled section, in the form of Startups finds the same difficulty at their initial stage, to stand with limited resources and semi- skilled workforce .
In order , to provide an incentive to its Startup India Initiative govt in its Budget FY17 announced for startups ” a tax rebate of any 3 years out of 7 initial yrs , which was earlier taxed as 3 out of 5, giving a motivational support to them for develop a good base for their business in their initial term.
Also, govt took care on aspect of MSMEs which have always been a major employment generator for the country, giving them a due recognition in budget and allowing them” a rebate of 5% in their tax slab” predicting more jobs from this sector.
So we can say that , Govt has taken a friendly Sankalp (objective) towards employing this cashless economy with a workforce comprising of effective and skilled population.