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The recruitment industry hopes the Budget will address issues of skill development in the backdrop of the Centre’s focus on ‘Make in India’ and the revival of the manufacturing sector.
In the first full-fledged Budget the new government has an opportunity to address the challenges of a widening skill gap, promote capability development, and foster higher education and research under one umbrella programme, according to Moorthy K Uppaluri, CEO, Randstad India, a recruitment company.
The ‘Make in India’ campaign is expected to create around 100 million jobs by 2022. Employment exchanges in educational hubs and industrial clusters will help in a better demand-supply match, said Kamal Karanth, MD, Kelly Services, a HR company.
An investment of ₹760 crore on skill development and entrepreneurship will boost the job market, he said.
Contract hiringAccording to him, large investments in the infrastructure sector will result in the creation of additional jobs, including fixed-term contract hiring. Investment in the power sector is expected to create jobs in rural India. IT firms will see a rise in spend on staffing, and an increase in contractual hiring. Small and medium size enterprises will be one of the top job creators as they continue to boom. Employment exchange initiatives to create jobs along with changes in the labour reforms will signal a healthy job market in the near future, he said.
Flexi-staffing can be an important catalyst in creating jobs and providing skills, but “we need immediate policy intervention to enable exponential creation of formal jobs,” said Rituparna Chakraborty, president, Indian Staffing Federation.
In India organised and formal flexi-staffing has proved to be a stepping stone for over five million youth in the past decade alone, said Chakraborthy who is the Senior Vice-President and Co-Founder, TeamLease Services, a HR company.
Rahul K Patwardhan, CEO Designate, NIIT Ltd, provider of skills and talent development, said companies should get to enable their employees to upskill through certified skill training bodies. The Centre should also create and empower Skills Universities within existing Universities, and enable them to provide training across India through distributed, technology-connected hubs or delivery centres.
He said that schools should not be restricted to work with reputed private training partners to enable this. This will ensure that every student who completes 8th standard gets definite access to at least one certified job ready skillset, he said
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