Budget 2023: The Jobs Conundrum

Job creation has been one of the key challenges for the policy makers. In the run-up to Budget 2023, economic research data by CMIE (Centre for Monitoring Indian Economy) indicates that unemployment rate in the country was at a 16-month high of 8.30% in December 2022. The panel of experts in Fortune India’s pre-budget roundtable contend that with high level of automation and digitisation, manufacturing may not remain an avenue for job creation and that focus is needed on services as well as self employment.

The panel comprised Gopal Krishna Agarwal, national spokesperson for economic affairs, BJP; Prof. Gourav Vallabh, spokesperson,

Indian National Congress; Nadir B. Godrej, chairman, Godrej Agrovet Ltd. & Godrej Industries Ltd; Rahul Garg, partner, Price Waterhouse & Co LLP; Sonal Varma, managing director & chief economist, India, and Asia ex-Japan, Nomura and Subhash Chandra Garg, former finance and economic affairs secretary, Government of India & chief policy advisor, Subhanjali, a think tank.