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Why the Government Cannot Create Jobs Easily, despite PM Modi's Promises
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- čas přidán 10. 04. 2024
- Explore the complexities of job creation in India with Debashis Basu video. Delve into the insights from chief economic advisor V Anantha Nageswaran and former CEA Shankar Acharya as they explain why high economic growth hasn't translated into significant employment opportunities. Discover the impact of government policies, past and present, on job creation and gain a deeper understanding of the challenges faced by job seekers and businesses alike.
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Modi hai to sabkuch Mumkin hai ! When the blind follow the blind leader anything is possible except decent jobs !
Many unemployed youth in my area becoming Medical representative . Quite tough job but pays well with good enough experience .
People should come to the streets and ask this question. Why the government can't provide PSUs and Railway jobs?
Because that is a bandage solution not a proper solution
@@Varun2799 agreed. Also hiring has to been according to needs and requirements. The purpose of recruitment is not to be give jobs. Does the private sector hire people to give them jobs.
It is to fulfil a requirement. The govt. should only hire if it has a requirement. Excessive workforce has proven to be a bane of government companies for decades. People forget that ultimately tax payers money goes into a govt. company. Therefore just to fill posts in order to give jobs is not a good idea.
Self Employment is the future ahead. Also education system needs to move from knowledge to skills. I am hearing people have no jobs after BTech MBA. well what are their skills ?
Previously companies hired freshers and trained them. Now I do not think that companies can afford that luxury to hire freshers and train them. So entry level jobs are drying up. Sadly. Therefore it is up to the youth to be more skilled and accept lowly paid jobs and then rise up to the rank.
My first job I was paid 8k but in my final job I retired from 35k. Four times increase. During my working days I never saw this debate over lack of jobs. The young guys went ahead and accepted the jobs they got. I think it is also due to the fact that aspirations have risen. Then one Nokia phone costing 2k lasted 2-3 years or maybe even more. Now new smartphone costing 15k maybe changed every year.
And youngsters want more salary to enjoy their life. That should not be the case. They should learn to set their feet for first few years. Or else jobs are there maybe not according to the expectations of people.
But simple point is that govt. job is not the solution to India's employment crisis.
Read the history of India and tell me, when the people fought back against those in power?
Government must work as facilitor , reduce the red tape....private entrepreneurship must flourish
Two sectors that could generate employment in millions where India has/could have had a competitive advantage 1] Footwear - 2] Garments - known from 1995 to me; What has successive govts. done - regime to regime; Y on Y, at the policy level - nothing; And the sectors that were the bellwether of solid middle class jobs, jobs that generate demand - IT & Financial Services, the glory days of both the sectors is over from the perspective of job generation is over!!
Lot of staff shortage in public sector banks. Government should start hiring there
State should have SBI in it's hand and let go of all other banks. Or better implement more and more technology so that staff become irrelevant. Just for example, JIO and Airtel spend 6-8% of revenue on HR while BSNL spend 60% on HR, is there any comparison? Obviously Private telecom players triumphed while BSNL going through slow death.
Very balanced apt video on a very important issue. I see in IT time is ripe for coding engines (where entire code base will be developed, managed and updated by AI based coding engine), this will eventually eliminate lot of jobs. High paying jobs will be tougher to create going forward. Corporate profit growth is 15-20% but employment growth is 1-2%. cash rich companies are ready pay for automation, for them Humans are problem. There will be Viksit Bharat, only for top 20% of the population bottom 50% are already irrelevant.
Mudra loan is by default NPA loans in waiting.
WHAT SHOULD INDIA DO TO INCREASE EMPLOYMENT?
1. Increase the ease of doing business in India so foreign capital can flow in. In China approvals are granted in days compared to months in India.
2. The introduction of the land banking system similar to Gujarat, where it is easy to acquire land for development. In Gujarat the government acquired huge tracts of land in advance, making it readily available for businesses. This saved the businesses YEARS of their time negotiating with small landowners. All states should emulate the Gujarat model which is similar to the China model.
3. Build a digital system to enable loans to SMEs via the Open Credit Enablement Network. SMEs are the biggest soutce of employment.
4. RBI must give a more free-hand to the banks.
If the private sector is looking for skilled labour they can also train the required staff, if its about market economy our labour also need to consider going abroad where the demand is more
No more capex , first empower citizens .
If 300000 govt jobs are filled , on an average rs. 40k per month per employee, govt will require 1.5 lakh crore , it better be spent here , empowered citizens will empower the govt as well.
Very well said. Apart from skill upgradation, massive initiatives in capital goods and other manufacturing are necessary. Capital goods manufacturing has to be based on home grown technologies.
A famous PSU called HMT failed decades ago. Now that ISRO has created new paradigm, HMT must be revived for designing and developing capital goods in select sectors in a big way. This should lead to lower capex & opex in manufacturing which must absorb large number of folks despite AI.
A sane voice there. Skilling, education are the answers and tourism (all connected sub sectors e.g. hotels, adventure (related equipment), guides, , health, entertainment & food, education, arts, crafts, design, novel agriculture and hobbies the sectors to focus on.
They promised 2 crore jobs per year. Isn’t it?
Thank you Sir
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Hi Debasish, I agree on skilling..we have a requirement in many sectors where industrial guys are not able to fix but we don't have good skilled labour like welders, fitters, turners, tailor etc..
U can train ur son and daughter 😂😂 This is elite mindset to keep the poor poorer 🤦
Gujarati are generally more enterprising and take to business rather than go for service jobs.
PM only listened to corporates and industries and not the people of the country which is why jobs are not generated. He in fact killed small scale who generated highest jobs in the country. Education has gine out of reach of common people as the inflation in Education is more than 14% and healthcare the same. The health insurance premiums are sky rocketing and so is the hospital cost. He has never kept checks and balances against these profiteering businesses which are not supposed to ne businesses in the first place. Also he maximised corporate profits without negotiating with them for jobs by reducing taxes and favouring them with contracts and giving free hand to them through regulators(this changed the refulators role from regulator to promoter). First time in our country he started allowing lobbying especially by pharma and insurance industry which go hand in hand. So many more malicious work is done by him but not writing about it today.
God is watching. Karma follows.😢
I want to know about the legality of Term Deposit Advice issued by several banks in lieu of Term Deposit Receipt.
Bank Deposit Receipts are not Negotiable Instrument, not a bond which attract Stamp Duty. You can not trade or transfer it. It is redeemed / encashed only at the issuing branch and the can only be credited to account of the person in whose name it is issued or to the nominee in case of his death.
So there is no legal bar in issuing Term Deposit Advice or Account Statements.
Initially Mutual Funds were issuing Investment Receipts in Security Papers. Nowadays they were issuing account statements in electronic formats.
@@kokiladevim6652 Thanks for the reply, but why is TDA are not accepted by the Court of Law, and why there are provisions that in case of dispute Bank may issue a TDR in case to case basis?
Present industries need not much manpower.govt jobs are not not filled even after long.pvt sector outsource the jobs with minimum pay.50pct govt job are under quota.only service sector has scope to offer some jobs.so efforts to generate jobs is far cry.manual labour jobs are available to some extent.
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According to Global Times, India still has a negative business environment. Government needs to reduce the GST rate to 5%.
Global times is Chinese propoganda bro, ofcourse they'll say this
Time is running out.India is losing the benefit of its demography advantage of its youth being in the range"17-30" yrs..No man7facturing, prodiction,assembly..to export..
With the advent of humanoid robots, would there be much need for labour, in the future? Not just India, but all over the world, AI-based humanoid robots will gradually replace all man-power. So all these issues of job-creation will become non-issues, since there may not be any jobs left 😉
When they said making pakoda is also a job. They made it clear, that they are not gonna do anything.
Eid Mubarak sir.
Eid Mubarak
I have far far higher respect for a Pakoda vendor than a most babu mentality employee in the government and private sector. The competence needed to become a successful Pakoda vendor is far more complex than to be a cashier in SBI or Ticket Collector in Railways. Indians have a funny inverted hierarchy of Job value. One needing higher competence is seen as a low-value job and one needing low competence is seen as a higher level job. We are a totally screwed-up nation.
Running a Pakoda stall and being a Bank cashier are two different set of skills. No where in the world is a street vendor considered higher in the heirarchy than a bank employee. One is a white collar job and the street vendor's is a blue collar job. Many street vendors themselves would love to become a bank employee.
Ask ur son and daughter to sell pakoda, clean public toilets and be a scavenger. 😂😂
Mr Debasish, you are SILENT on "Make in India" push by Sri Modi. This push has opened the manufacturing sector and increase in GST collection is a clear indicator.
By the way, you don't recognise the massive sacking in IT jobs perhaps due to AI.
A house wife is not accounted under employment, but she makes a home including bringing up children. This critical contribution is not there in the Christian West, there is no family, increase in drug abuse and crime.
Please step out of the confines of the office chair syndrome, perhaps even you are under employed with your CA qualification! No offence meant please.
You are savage bro 😮
Akand bhakth to the core😂😂
Ask ur daughter to be a housewife. Not everyone is as elite as Upper Caste Hindus (Brahmin) especially. 😡🤦
“Thank you so much for the appreciation of our work. It is true that more people should benefit from the frank discussions in these videos - but we live in a world of paid influencers who have resources for promotions - so independent voices get drowned out. May we request you to help spread the word by sharing these videoblogs and subscribing? thank you”