Blueprint for job creation by January-end: Piyush Goyal
5 years, 11 months ago

Blueprint for job creation by January-end: Piyush Goyal

Live Mint  

New Delhi: The government will come out with a blueprint for creating high-paying jobs for the youth as it tries to assess the job situation on the ground and fix the problems, Railway minister Piyush Goyal said on Tuesday. “The government, economists and think tanks need to engage more to find more paying and quality employment opportunities for the youth and how we can capture employment data more accurately,” Goyal told industry leaders at a workshop on jobs and livelihoods organised by industry chamber, the Confederation of Indian Industry. This is often touted as a data point about unemployment.But, one should not be carried away by false data points, such as the number of people applying for government jobs.” The minister said while one cannot deny that a lot of people are looking for employment in the formal sector, a lot of them are already working in private sector or are self employed. “It is important to capture data on job creation.” Economists said that declining employment elasticity—the ability of an economy to create jobs in relation to its growth rate—was not a problem specific to India, but faced by many other markets.

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