Nifty99000 100%

Sensex99000 100%

Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: 4.0
RSS

News

Job loss due to automation won’t affect India: Government

Author: IANS/Wednesday, August 9, 2017/Categories: Economy

Job loss due to automation won’t affect India: Government

New Delhi - The government on August 7 said that job loss through automation in India should not be a matter of concern as the "growth momentum" of the economy will result in new job opportunities.

A 2016 World Bank report titled "Digital Dividends" speculates that automation threatens 69% jobs in India.

However, Minister of State for Finance Arjun Ram Meghwal said that the report "inter alia also states that 'even if technologically feasible, large-scale net job destruction due to automation should not be a concern for most developing countries in the short term' ".

"The government is also of a similar view," Meghwal said in a written reply to the Rajya Sabha.

"Even in medium to long term growth of Indian economy of over 7% and steps being taken to enhance the growth momentum will result in further creation of new job opportunities and absorption of replaced labour, if any," he said.

He said that employment generation has been one of the most important priorities of the Narendra Modi government.

"Employment generation is both a cause and consequence of economic growth and is impacted by demographic shifts and technological transformations. In order to improve the employability of youth, around 20 ministries run skill development scheme across 70 sectors."

Meghwal said the government has taken various steps for generating employment like encouraging the private sector, fast tracking various projects involving substantial investment and increasing public expenditure on schemes like PM's Employment Generation Programme, MGNREGS, Deen Dayal Upadhyaya Grameen Kaushalya Yojana, Deen Dayal Antyodaya Yojana and National Urban Livelihoods Mission.

Print Rate this article:
No rating

Number of views (393)/Comments (0)

S Vijaykrishnan
S Vijaykrishnan

IANS

Other posts by IANS
Contact author

Leave a comment

Name:
Email:
Comment:
Add comment

Name:
Email:
Subject:
Message:
x

Videos

Ask the Finapolis.

I'm not a robot
 
Dharmendra Satpathy
Col. Sanjeev Govila (retd)
Hum Fauji Investments
 
The Finapolis' expert answers your queries on investments, taxation and personal finance. Want advice? Submit your Question above
Want to Invest
 
 

Categories

Disclaimer

The technical studies / analysis discussed here can be at odds with our fundamental views / analysis. The information and views presented in this report are prepared by Karvy Consultants Limited. The information contained herein is based on our analysis and upon sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it. The investments discussed or recommended in this report may not be suitable for all investors. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent advice, as they believe necessary. While acting upon any information or analysis mentioned in this report, investors may please note that neither Karvy nor Karvy Consultants nor any person connected with any associate companies of Karvy accepts any liability arising from the use of this information and views mentioned in this document. The author, directors and other employees of Karvy and its affiliates may hold long or short positions in the above mentioned companies from time to time. Every employee of Karvy and its associate companies is required to disclose his/her individual stock holdings and details of trades, if any, that they undertake. The team rendering corporate analysis and investment recommendations are restricted in purchasing/selling of shares or other securities till such a time this recommendation has either been displayed or has been forwarded to clients of Karvy. All employees are further restricted to place orders only through Karvy Consultants Ltd. This report is intended for a restricted audience and we are not soliciting any action based on it. Neither the information nor any opinion expressed herein constitutes an offer or an invitation to make an offer, to buy or sell any securities, or any options, futures or other derivatives related to such securities.

Subscribe For Free

Get the e-paper free