New Delhi: The Cabinet Secretariat has directed that all proposals seeking approval of appraisal bodies including Foreign Investment Promotion Board (FIPB) and Core Group on Disinvestment need to mandatory mention “employment generation potential”.
The move is aimed to ensure more jobs are created for people and further their socio-economic development.
In the run-up to the Lok Sabha election, Prime Minister Narendra Modi had promised the creation of more jobs one of his main poll planks.
Though there is a recovery in the job market, the situation has not changed drastically even nearly two years after Mr Modi being elected to the power. The prime reason for the poor job growth in the country is believed to be private sector’s inability to invest in increasing capacity. Various government initiatives such as Make In India, Skill India, Startup India, labour reforms among others are aimed to boosting employment in the private sector.
It has been decided that all notes submitted for the consideration of appraisal bodies such as Expenditure Finance committee, Public Investment Board, Core Gro-up on Disinvestment, Expanded Board of Railways, FIPB, PPP Appraisal Committee, Tele-com Commission, High Powered Committee for Road Projects under the special accelerated road development programme for North East should henceforth clearly indicate the employment generation potential of each proposal,” said a Cabinet secretariat circular said.
