Union Minister Hardeep Singh Puri Highlights Job Creation Success Under Modi Government
Union Minister Hardeep Singh Puri Highlights Job Creation Success Under Modi Government
New Delhi, July 13, 2024 — Union Minister Hardeep Singh Puri praised the findings of a recent State Bank of India (SBI) report, highlighting the significant strides made in job creation under the Narendra Modi-led government. The minister pointed out that while the United Progressive Alliance (UPA) managed to create 2.9 crore jobs over a decade, the Modi government has facilitated the creation of 12.5 crore jobs in the same timeframe.
SBI Report Findings: The SBI report, which meticulously analyzes employment trends over the past two decades, underscores a stark contrast in job creation metrics between the two administrations. Key findings of the report include:
- UPA Era (2004-2014): Approximately 2.9 crore jobs were generated during the 10-year tenure of the UPA government. The period faced criticisms for slower economic growth and less aggressive employment policies.
- Modi Government (2014-2024): In contrast, the report states that the Modi administration has overseen the creation of 12.5 crore jobs. This substantial increase is attributed to several economic and policy reforms aimed at boosting employment across various sectors.
Government Initiatives: Minister Puri highlighted several flagship initiatives that have contributed to the remarkable growth in employment:
- Make in India: Launched in 2014, this initiative aimed at transforming India into a global manufacturing hub, has created numerous job opportunities in the manufacturing sector.
- Skill India: Focusing on vocational training and skill development, this program has equipped millions with the necessary skills to enter the job market.
- Startup India: By fostering a robust startup ecosystem, this initiative has led to the creation of numerous direct and indirect jobs.
- Pradhan Mantri Mudra Yojana (PMMY): Providing easy loans to small businesses, PMMY has empowered micro-entrepreneurs, significantly boosting employment at the grassroots level.
Economic Reforms: The Modi government has implemented several structural reforms aimed at stimulating economic growth and, by extension, job creation:
- Goods and Services Tax (GST): Simplification of the tax structure has led to increased compliance and growth of the formal economy, indirectly promoting job creation.
- Insolvency and Bankruptcy Code (IBC): Strengthening of the insolvency framework has improved business confidence, leading to higher investments and job opportunities.
- Infrastructure Development: Massive investments in infrastructure projects, including roads, railways, and airports, have created millions of jobs.
Opposition’s View: Despite the optimistic figures presented by the SBI report, opposition parties have raised concerns regarding the quality of jobs created. Critics argue that a significant portion of these jobs may be in the informal sector, offering lower wages and minimal job security. Additionally, they highlight issues of underemployment and the need for more high-skill job opportunities.