Big Boost For Increasing Employment In India – PSU Test Results Would Be Now Applicable For Private Sector Jobs
As of 2011, there are 116 million unemployed people in the country, out of which 10 million have atleast a graduation degree and 7.2 million have a technical degree. But the irony is that, as of 2014, there are close to 1 million active registered companies in India, which are categorized under ‘private sector’.
Even if every company hires just 7 Indians with technical degree, every unemployed technically skilled Indian would get a job!
PM Modi, Indian PM is actually aware of the situation, and is taking big steps to improve the situation. In a step which we would call revolutionary, results from Public Sector Unit employment tests would be now applicable while applying for private sector jobs as well.
Why This Is A Revolutionary Step?
As of now September 30th, 2015, there are close to 300 Central Public Sector Enterprises (CPSE) which are also called PSUs; out of which, there are 7 Maharatnas, 17 Navratnas and 73 Miniratnas companies. Besides, there are several state level public sector units.
Ofcourse the number of such PSUs is very less compared to private sector companies; which means that getting into a PSU is lot harder and more competitive compared to getting into a private sector company. There are parents who believe that getting into a Govt. job is the only feasible option for their sons/daughters, and they keep on trying for the same.
However, as test results would be now applicable for private sector firms, this will encourage and inspire more youths to try out non-Govt. Jobs as well and this will reduce unemployment rate in India.
How Will It Work?
As per available reports, and PM Modi’s promise, test results conducted by third party agencies for PSU jobs would be now shared on demand with private sector companies. A consent needs to be provided by the candidate for this facility.
Hence, the candidate will be required to give fewer exams, and a lot of time and resources would be saved.
PM Modi said, “It will provide a rich database which can be used by private sector employers as a readymade and objective sourcing and screening mechanism. It will reduce search costs in the labour market for both employers and employees. It will enable better matching of candidates from labour surplus areas with jobs in other regions,”
Do you think that this decision to reuse PSU test results for private sector jobs will help to generate more employment? Do share your opinions by commenting right here.