Job market to see greener shoots on Budget 2016-2017

Job-seekers and skilling for employment have received yet another impetus from the Union Budget presented today. While new skill centres will be set up, the employment exchanges are also being strengthened.

Employment exchanges across states are in dire need of redevelopment not just in job updation, but also in technological upgradation. 

Finance minister Arun Jaitley's announcement that the National Career Service platform will be linked to these exchanges is a welcome development since it will serve as a one-stop shop for all jobs and career related needs.

Read our full coverage on Union Budget 2016
Already 35 million jobs seekers have registered on this platform. However, how many of them have actually been successful in securing a job remains to be seen, though the platform was set up only in July 2015. 

Similarly, apart from job fairs periodically, HR experts also point that there is a dearth of a single source or platform for all employment needs especially at the fresher stage. With Jaitley proposing to make 100 Model Career Centres operational by the end of 2016-17, there is some hope that some improvements could be seen.

Dearth of relevant skills to suit industry needs has been a big concern in the jobs market. While the Pradhan Mantri Kaushal Vikas Yojana (PMKVY) has been a stepping stone to getting people skilled, vocational education has still not been a preferred area of study.

An increase in incentives in the skilling space for those acquiring relevant skills would have encouraged more number of people to enroll into these centres. Similarly, Industrial 

Training Institutes which also provide skill training need a push to deliver better results. However, no measure for this space was announced.

Certification had been another concern area. However, with the decision to set up a National Board for Skill Development Certification in partnership with the industry and academia, this will be redressed. 

Overall, while emphasis has been on creating new jobs, the key will be on how many new enrollments under the skill scheme and how many complete it successfully needs to be seen.

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