National employment policy on the cards in budget 2018

The government in the next budget ( 1 ) might introduce a national employment policy ( 2 ) outlining a comprehensive blueprint ( 3 ) to generate quality jobs ( 4 ) in every industry.

Prompted by the risingunemployment ( 5 ) in the country, the government in the next budget might introduce a national employmentpolicy ( 6 ) outlining a comprehensive ( 7 ) blueprint to generate qualityjobs ( 8 ) in every industry.

The policy blueprint will be shaped by economic ( 9 ) , social ( 10 ) and labourpolicy ( 11 ) interventions, the Economic Times reported.

The policy is likely to be announced in the upcoming Budget, which will be the last one from the current Prime Minister Narendra Modi-led government before generalelections ( 12 ) in 2019.

The employmentpolicy ( 13 ) will have many sides and applications ( 14 ) .

It will incentivizeemployers ( 15 ) to createmore jobs ( 16 ) , introduce economicreforms ( 17 ) appealing to companies along with supporting the mediumand small scale industries ( 18 ) which provide a hugechunk of jobs ( 19 ) , a senior government official told ET.

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Over 10million youth ( 20 ) join the workforce ( 21 ) every year.

But there are notenough jobs ( 22 ) to engage them and thus, the unemploymentissue ( 23 ) has risen to the extent of electoralimportance ( 24 ) —used by oppositionparties ( 25 ) to attack the Modi-led government.

The jobgeneration ( 26 ) speed faced a six-year low in 2015 as only 135,000 new jobs were created compared to 421,000 jobs in 2014 and 419,000 in 2013, as per a quarterlyindustrial survey ( 27 ) conducted by the Labour Bureau under the labourministry ( 28 ) .

Another significant aim of the policy would be to engagemore workers ( 29 ) in the country’s organisedsector ( 30 ) because that would get them minimumwages ( 31 ) and socialsecurity ( 32 ) , the government official told the newspaper.

The policy could actually be impactful in this regard as over 90 per cent of workers in India are engaged in the informalsector ( 33 ) and hence, does not benefit from any social security law or minimumwage ( 34 ) rule.

The government is closely assessing the labour conditions and employment trends ( 35 ) in the country in order to lay out specific targets ( 36 ) and set up a monitoring system ( 37 ) .

The things the government is looking at include demographiccomposition of workers ( 38 ) , employment challenges ( 39 ) in different sectors, and the overall macroeconomiccondition ( 40 ) .