Niti Aayog Forms Task Force To Push Exports And Create Jobs

by Vinaya HS on September 24, 2017

in Finance

Thanks for visiting Capital Advisor. I frequently update this blog to cover various topics on personal finance such as investment strategies, financial products that you should buy and ones that you really should stay away from, financial calculators, emerging themes such as early retirement and financial independence, and much more. You can Subscribe through Email and receive new articles directly in your Inbox or you can Subscribe through the RSS Feed and receive new articles in your feed reader.

The following post is a sponsored post.

The Niti Aayog has formed a task force recently. The newly formed task force aims to devise an action plan and strategies on how to boost the country’s exports and generate more employment.

The commission said that the employees of the country have aspirations but the kind of work most of the employees are employed in are not as productive and they also get low wages because they work in a small, micro and own-account enterprises.

The task force is constituted of 15 members and collectively they are addresses as, ‘Task Force on Employment and Exports’, the market news confirms. The newly formed panel will work under the Vice Chairman of the Niti Aayog, Rajiv Kumar. The task force will also include many secretaries from various government departments, industry experts and economists.

The recent release on the task force has also communicated that there is an urgent need for sustained expansion of the organized sector in the country which is key to address the most worrisome issue of India’s unemployment and under-employment. Not only the focus is to create more employment opportunities in the country for the deserving workforce of India but this strategy will also help in creating a shift towards more labor intensive goods and services which must be utilized for the purpose of exports.

According to the official release, the other terms of reference include suggesting ways to enhance the availability of data on the trade so that it is “reliable, globally comparable and timely, particularly with respect to trade in services”.

Along with suggesting the ways to increase the exports of the country and create more organized employment, the ‘Task Force on Employment and Exports’ will also address other important issues like giving the recommendations on sector-specific policy interventions in the key employment sectors. The panel will also talk about the several measures that can be taken to enhance the trade in services carrying the employment potential in high degrees, as per the business news.

The panel also aims to propose a comprehensive plan of action to generate more and more employment and lessen under-employment in both the sectors of goods and services and also address the low wage issue by increasing the country’s overall exports in the prime labor intensive industries.

The task force is also asked to identify key macroeconomic factors that are constraining the country’s exports so that the next action can be thought. They are also expected to suggest and devise methods so that such irritants can be suitably addressed. Monitoring the effectiveness of the performance of the schemes that still exist which were introduced with an intention to promote exports is also one of the prime key responsibility area of the task force. The other area the panel will look into is to addressing the issues that are related to the logistics, export credits and trade facilitation. The task force is expected to submit its final report by the month of November, as per the Niti Aayog.

For more on Business & Stock Market News, visit BloombergQuint.




Thanks for reading this article. I'd love to hear your opinion. Please use the comments section below to share your thoughts. I frequently write new articles that also cover several other aspects of personal finance including credit cards, financial goals, health insurance, income tax, life insurance, mutual funds, retirement planning, and much more. You can Subscribe through Email and receive new articles directly in your Inbox or you can Subscribe through the RSS Feed and receive new articles in your feed reader.

Previous post:

Next post: