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Exciting times for the job market: Sanjay Modi, MD, Monster.com

The adherence to a fiscal deficit of 3.5 per cent in the Budget indicates government's focus on taking prudent measures to ensure a stable economy especially in an uncertain global economy.

Sanjay Modi        Last Updated: March 1, 2016  | 11:35 IST
Sanjay Modi, Managing Director, Monster.com (India/South-East Asia/Middle-East/Hong Kong)

The adherence to a fiscal deficit of 3.5 per cent in the Budget indicates government's focus on taking prudent measures to ensure a stable economy especially in an uncertain global economy. However, the funds allotted for the recapitalization of public sector banks leaves a lot to be desired as it will hamper low cost accessibility. Finance Minister Arun Jaitley has established that skilling and job creation are among the top priorities for the present government.

These are exciting times for the job market as the government is riding high on skilling and entrepreneurship with an increase impetuous on digital. The announcement of Rs 1,700 crore for 1,500 multi-skill development centres under the PM Kaushal Vikas Yojana is a much needed step. Additionally, linking it to National Career Centres for placement would aptly channelize the talent and improve employment avenues.

The announcement of two schemes for National Digital Literacy Mission for Rural Households stresses on the government's vision empowering Digital India. This is likely to have an effect on new business ideas that use digital technologies to reach consumers and markets. The amendment in the Companies Act is an encouraging move for the start-ups. Cognizant of the fact that India has a role to play in the global economy, the FM has presented a balanced budget.

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