Upcoming Budget To Focus On Creating 2 Million Jobs

May 14, 2020 | Investopaper

The government is preparing to create about 2 million new jobs next year as a large number of people lose their jobs due to the corona virus epidemic.

Before the budget for the fiscal year 2077/78 is made public two weeks later, the ministries have informed that more than 2 million jobs can be created. This number is 600,000 more than the current fiscal year. The government is currently preparing next year’s budget.

In the proposal made to the government for the forthcoming budget by the 11 ministries including the National Reconstruction Authority that have the potential to create employment in the coming days, most of them have mentioned that only a small number can create more employment than at present.

As the loss of employment by the workers at home and abroad will lead to an even bigger problem, voices have been raised that emphasis should be laid on job creation. It is mentioned that the principles and priorities of the budget presented by the Finance Minister Yubaraj Khatiwada in the Federal Parliament will also focus on job creation.

The Ministry of Agriculture and Livestock has informed that 546,066 jobs will be created in the coming fiscal year. The ministry expects to create employment by expanding infrastructure for developing collective fruit farming and agri-farm centers on public lands as an agricultural resource center. According to the ministry, 4,97,400 people are employed in the field of agriculture and livestock development before the corona virus took the form of an epidemic.

After agriculture, the Ministry of Communications and Information Technology has stated that it will create 527,300 jobs next year. The ministry said that 443,115 people were employed in the field of information and technology before the corona virus took the form of an epidemic. The main goal of the ministry is to establish mobile assembling industry in the country next year, expand e-commerce and e-agriculture through internet and increase employment.

The Ministry of Labor, Employment and Social Security has stated that employment can be provided to 150,000 people. There is a plan to expand the scope of work of the Prime Minister’s Employment Program and list the required workers in the government and private sectors in the employment service centers. In the current fiscal year, the Ministry of Labor has provided minimum employment to 10,000 people. The ministry has stated that it will provide employment to the very poor next year.

According to the Ministry of Tourism, Culture and Civil Aviation, 240,234 jobs will be created in the tourism sector most affected by the Corona epidemic next year. It is expected to create employment through conservation and reconstruction work through the Consumer Committee to explore the potential of tourism. Before Corona, 83,000 people are getting direct employment in the tourism sector, according to the ministry.

Similarly, the Ministry of Urban Development has decided to create twice as many jobs next year as compared to the current fiscal year. Although the proposal submitted by the Ministry of Finance and other agencies mentioned that 112,900 jobs will be created next year, it has not revealed anything about how those jobs will be created. According to the same ministry, 49,900 people are currently employed in the urban development sector.

The Ministry of Federal Affairs and General Administration has informed that one lakh 10 thousand, the Ministry of Forest and Environment and the National Reconstruction Authority will create one lakh jobs in the coming fiscal year.

The Ministry of Physical Infrastructure and Transport Management, which has been given the main responsibility of infrastructure construction, has informed that the number of jobs will decrease in the fiscal year 2077/78 instead of increasing. The ministry has informed that 74,978 people got employment in the fiscal year 2076/77 BS and estimates that 65,642 people will get employment next year.

Similarly, the Ministry of Water Supply and Sanitation will create 55,100 jobs and the Ministry of Land Management, Cooperatives and Poverty Alleviation will create 5,666 jobs next year. The job creation of these two ministries is only slightly higher than the current year.

While a large number of Nepalis at home and abroad have lost their jobs, expecting employment to be created by various ministries, many will be unemployed next year. The Non-Resident Nepali Association has already informed that about one million Nepalis in foreign employment may lose their jobs and return. Various destination countries are urging the government to take back the workers. Minister for Foreign Affairs Pradip Gyawali had informed the parliamentary committee on Monday that 500,000 youths from abroad were waiting to return home.

Adding those returning from abroad and those who have lost their jobs at home, it is seen that at least 2 million people need to be given employment immediately. According to the Central Statistics Office, there were 922,000 registered industries and establishments across the country with about 3.4 million people working before the Corona epidemic. Similarly, a large number of workers have been working in the informal sector. After Corona, workers in the informal sector are said to be the worst hit.

Investopaper

Investopaper is a financial website which provides news, articles, data, and reports related to business, finance and economics.

Leave a Reply

Your email address will not be published.

error: Content is protected !!