Added on: 5/2/2013 8:04:01 PM
India Inc sees improvement in job scenario in Q4 FY13: CII
As per the recent economical job surveys, India Inc haveshown expectations for an improvement in the job scenarios in the Q4 FY13. Thesurvey was conducted on 175 members, out of whom 53 per cent members are largescale- firms, 14.8 per cent are small- scale business firms and 25.2 per centsmall scale firms whereas the rest 7 per cent are micro firms. On the basis ofbusiness that these firms are engaged in, a significant 67.2 per cent are manufacturinghouses, 31 per cent are service sector industries and rest 1.7 per cent belongsto the primary sector. In the survey these respondents choose inflation, highinterest rate, the non-stop corruption and uncertainty in political arena assome of the concerns which can deter the future growth. The survey alsorevealed the figures of third quarter of the fiscal year 2012-13. About 58.3per cent saw no change in the staff levels where as 30.1 per cent experienced afall in the levels of employment.
Despite the sluggishness of economy, the overall index is animprovement over the last quarters of current fiscal when there was a fall of30 per cent in the staff level of some firms between the months of October –December 2012. In spite of odds of GDP which came down to 4.5 per cent in thethird quarter of last year, the Indian economy is expected to expand by a percent close to 5.5 in the year 2012-13. The GDP estimates for 2013-14 is 6.1-6.7 per cent.
Even though thegovernment is committed to achieve the fiscal consolidation target, it is earlyto presume it as a signal that recovery has begun. The figures of improvementin job scenarios are promising yet it is just a small part of total growthestimates that the government has set up for the next fiscal year. In order tomatch the expectations of growth utmost focus on the critical reform measuresis required. Some measures have already been taken in the Union budget 2013-14but they are not sufficient to fulfil the required growth.
aniket Replied on 3/31/2015 at 6:01 PM
Informative article-Thanks for sharing.