Lower Rate of Employment in the Country: Government Initiatives and Strategies
In response to concerns about the current lower rate of employment in the country, Union Minister of State for Labour and Employment, Shri Rameshwar Teli, provided a detailed overview of the government’s initiatives and strategies aimed at fostering employment generation and improving employability.
Positive Trends in Insured Employment:
The number of insured persons under the Employees’ State Insurance scheme has witnessed a significant rise from 3.1 crore in 2021-22 to 3.43 crore in 2022-23, indicating a positive trend in the insured workforce.
Aatmanirbhar Bharat Package:
The Government of India has been proactive in addressing the employment challenges exacerbated by the Covid-19 pandemic. The Aatmanirbhar Bharat package, with a fiscal stimulus exceeding Rupees Twenty Seven lakh crore, encompasses a range of long-term schemes, programs, and policies geared towards self-reliance and job creation.
Aatmanirbhar Bharat Rojgar Yojana (ABRY):
Launched on October 1, 2020, ABRY incentivizes employers to create new employment opportunities and restore jobs lost during the pandemic. As of January 19, 2024, 60.49 lakh beneficiaries have availed benefits under the scheme.
PM SVANidhi Scheme:
The Prime Minister Street Vendor’s Atma Nirbhar Nidhi (PM SVANidhi Scheme) initiated in June 2020 has sanctioned 83.67 lakh loans as of January 31, 2024, providing collateral-free working capital to street vendors affected by the pandemic.
Pradhan Mantri Mudra Yojana (PMMY):
PMMY, aimed at facilitating self-employment, has sanctioned 46.16 crore collateral-free loans up to Rs. 10 lakh to micro/small business enterprises and individuals for business setup and expansion.
Production Linked Incentive (PLI) Scheme:
With an outlay of Rs. 1.97 lakh crore over five years, the PLI scheme is expected to create 60 lakh new jobs, contributing significantly to employment generation.
The transformative PM GatiShakti approach, driven by key engines such as Roads, Railways, Airports, Ports, Mass Transport, Waterways, and Logistics Infrastructure, is set to create extensive job and entrepreneurial opportunities, emphasizing clean energy and inclusive efforts.
Skill Development Initiatives:
The Ministry of Skill Development and Entrepreneurship is actively implementing various schemes, including the National Apprenticeship Promotion Scheme (NAPS), Pradhan Mantri Kaushal Vikas Yojana (PMKVY), Jan Shikshan Sansthan (JSS) Scheme, and Craftsman Training Scheme (CTS) to enhance the employability of the youth.
Government flagship programs like Make in India, Start-up India, Stand-up India, Digital India, Housing for All, and others are strategically oriented to generate employment opportunities and stimulate economic growth.
While acknowledging the current challenges in employment, the government remains committed to its multifaceted approach, expecting these initiatives to collectively generate employment in the medium to long term through multiplier effects. The emphasis on skill development, entrepreneurship, and inclusive growth reflects the government’s dedication to addressing the employment concerns faced by the country.