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LATEST NEWS UPDATES | Falling short of aspirations -Ram Singh

Falling short of aspirations -Ram Singh

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published Published on Feb 3, 2020   modified Modified on Feb 3, 2020
-The Hindu

The economic outlook rests on government meeting investment targets and keeping promises made to stakeholders

There were many expectations from the Union Budget 2020: that it would reverse the falling growth rate, reduce unemployment and rekindle the animal spirits needed to revive private investment. Does the Budget really hold out the promise on these counts? To answer the question, the Budget can be judged in terms of its effect on rural demand, investment and private sentiments — all critical elements for recovery. While the Budget offers hope on the last count, it leaves much to be desired on several other parameters.

Skill development allocation

Of the Finance Minister’s own accord, there is a huge, unmet demand for teachers, paramedical staff and caregivers, and skilled workers. Well-paying jobs are created in the organised services and industry but require candidates with quality education and skills. Both elude India’s youth due to the poor quality of education and lack of opportunities to acquire practical skills. Still, the Finance Minister has allocated a paltry ?3,000 crore for skill development. Skilling will require massive investment and concerted efforts. The Budget could have given tax incentives to companies to provide internships and on-site vocational training to unemployed youth. The country cannot afford to let the world’s largest workforce waste this way.

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The Hindu, 3 February, 2020, https://www.thehindu.com/opinion/lead/falling-short-of-aspirations/article30721024.ece?homepage=true


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