New govt should boost growth, create employment opportunities
Updated: May 09, 2014 12:51:44pm
Mumbai, May 9 (KNN) Considering the ongoing economic slowdown and high inflation which is adversely impacting employment, the next government should bring out a strong economic revival package and implement policies which would generate new jobs, said CII chief.
“A strong economic revival package and right implementation of policies by a fresh government can help create as many as 150 million jobs in the next ten years,” said Confederation of Indian Industry (CII) President Ajay S Shriram yesterday.
Unveiling the action theme for the year as ‘Accelerating Growth, Creating Employment’, Shriram added that the federation has proposed a strong 100-day action agenda for the new government to boost growth.
Considering the situation of economic growth and need of job creation being crucial, India needs to focus on economic growth, he said. The country needs to create 12 to 15 million jobs per year for the next ten years to address the employability of youth.
He said the industry is looking for top policy initiatives such as introduction of GST, easing of interest rates by 100 bps, keeping subsidies at 1.7 per cent of GDP, and restructuring of labour laws to promote mass manufacturing.
“A market-friendly environment is required that would proactively promote investments, business and entrepreneurship,” he said.
CII further stated that with continuing robust reforms, GDP growth could be taken back to the 8 per cent level in the next three years.
In the coming year, CII will have key priorities in the areas like education, skills, economic growth, manufacturing sector growth, investments, ease of doing business, export competitiveness, legal and regulatory architecture, labour law reforms and entrepreneurship.
It has called the next government for immediate steps to implement policies such as introduction of GST, containment of subsidies and fiscal consolidation, monetary easing- reduction in the repo rate by 100 bps, maintenance of a competitive exchange rate, fast-tracking stalled projects, timely implementation of DMIC and NIMZs and others.
To help the country emerge as an attractive destination for business, CII will also continue to provide inputs in the areas such as of direct and indirect taxes, agriculture, manufacturing, services, skill development, higher education, labour law and entrepreneurship. (KNN/ST)
“A strong economic revival package and right implementation of policies by a fresh government can help create as many as 150 million jobs in the next ten years,” said Confederation of Indian Industry (CII) President Ajay S Shriram yesterday.
Unveiling the action theme for the year as ‘Accelerating Growth, Creating Employment’, Shriram added that the federation has proposed a strong 100-day action agenda for the new government to boost growth.
Considering the situation of economic growth and need of job creation being crucial, India needs to focus on economic growth, he said. The country needs to create 12 to 15 million jobs per year for the next ten years to address the employability of youth.
He said the industry is looking for top policy initiatives such as introduction of GST, easing of interest rates by 100 bps, keeping subsidies at 1.7 per cent of GDP, and restructuring of labour laws to promote mass manufacturing.
“A market-friendly environment is required that would proactively promote investments, business and entrepreneurship,” he said.
CII further stated that with continuing robust reforms, GDP growth could be taken back to the 8 per cent level in the next three years.
In the coming year, CII will have key priorities in the areas like education, skills, economic growth, manufacturing sector growth, investments, ease of doing business, export competitiveness, legal and regulatory architecture, labour law reforms and entrepreneurship.
It has called the next government for immediate steps to implement policies such as introduction of GST, containment of subsidies and fiscal consolidation, monetary easing- reduction in the repo rate by 100 bps, maintenance of a competitive exchange rate, fast-tracking stalled projects, timely implementation of DMIC and NIMZs and others.
To help the country emerge as an attractive destination for business, CII will also continue to provide inputs in the areas such as of direct and indirect taxes, agriculture, manufacturing, services, skill development, higher education, labour law and entrepreneurship. (KNN/ST)
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