Education and Job Creation is a wider scope and it covers the major part of the Indian population. Till now the India is not reaching a respected figure of education. In addition, the unemployment is a major problem in India. After taking the both things in consideration the finance minister has announced the following major announcement in union Budget 2016
Announcements in union Budget on Education and Job Creation:
- A higher education Financing Agency is to set up, with a fund of Rs 1000 crore: FM
- 1500 Multi-skill training institutes are to set up. The objective is to skill 1 crore youth in the next 3 years. Under the PM Kaushal Vikas Yojana National Skill Development Mission imparted training to 76 lakh youth.
- 62 new Navodaya school will be opened in uncovered districts. An increasing share of allocation under Sarva Shiksha Abhiyan will allocate.
- It proposed to establish a Digital Depository for School Leaving Certificates, College Degrees, Academic Awards. In addition, Mark sheets, on the pattern of a Securities Depository. Therefore, this will help validate their authenticity, safe storage, and easy retrieval.
- The National Skill Development Mission has created an elaborate skilling about 75 lakh youth.The objective is to bring business in the heart of youth through Pradhan Mantri Kaushal Vikas Yojana (PMKVY). A Corpus of 1,700 crores for these initiatives are against education and job creation
- In order to incentive creation of new jobs in the formal sector, Government of India will pay the Employee Pension Scheme contribution of 8.33% for all new employees enrolling in EPFO for the first three years of their employment.
- A National Career Service launched in July 2015. Already 35 million jobs seekers have registered on this platform.
The interest of the workers in terms of mandatory weekly holiday, a number of working hours per day, etc.. But, we propose to circulate a Model Shops and Establishments Bill which can adopt by the State Governments on the voluntary basis so the education and job creation idea of government seems to look good but let’s see what will see in future. an announcement was made every year and the results are in front of all of us.