Job creation should be top priority; even skilled people are finding hard to get jobs, says L&T's AM Naik
AM Naik, Larsen & Toubro Group Chairman and National Skill Development Corporation chief, said the government needed to take urgent steps to ensure job creation and that even skilled people were finding it difficult to find a suitable job in times of slowdown in the economy. The government should focus on building a consumption-driven economy, he said, adding that to boost economic development, it was necessary to fund the industrial growth.
Naik, during an interview, said that job creation could only be boosted if the Centre took steps to ensure economic development and more utilisation of industrial capacity. "Many industries have closed or are partially utilised, or working on certain days of the week, or just one shift a day," said Naik, adding that even though there's gross underutilisation of industry, there was a great demand for growth for a country of 1.3 billion people.
He also said the economic slowdown in India would also not help those seeking jobs abroad, as the economy in the Middle East is also sliding and "employability" is also not high. He said the biggest challenge in making youth job-ready is to give them the right training. "Some of the countries that were most devastated in world wars emerged as the most industrialised nations, because of most of their people went for skill training; we need good quality skill training," Naik told.
Naik was recently appointed as the Non-executive Chairman of Mindtree, with effect from July 18. Apart from being in the industry for over 55 years, Naik is also a strong believer in "giving back to society". Notably, the Larsen & Toubro patriarch donates a huge part of his wealth for charity, driven by his resolve to 'give back to society' in memory of his two-year-old granddaughter who surrendered to cancer more than a decade ago.
Named after his granddaughter 'Nirali', who died in 2007, he has set up Nirali Memorial Trust as well as the Nirali Memorial Radiation Centre in Surat to help other cancer victims. "I consider myself fortunate to be in a position to give back to the society that has given me so much. If I can, in some measure, help to relieve pain, alleviate suffering and provide care to those most in need, my efforts would be richly rewarded," Naik had earlier said.
Unemployment rate rises to 33-month high of 7.8% in June, says CMIE
Unemployment rate rose to a 33-month high in the month of June 2019 and employment rate fell to its lowest mark since January 2016, according to a report by Centre for Monitoring Indian Economy (CMIE). The report showed that the employment rate slumped to 39.42 per cent, whereas unemployment rate in June 2019 climbed to 7.91 per cent. The former is too low and the latter is too high, the Mumbai-based think tank said in its report.
The unemployment rate in May 2019 was at 7.2 per cent and a lot lower in June 2018 at 5.8 per cent. The unemployment rate of 7.91 per cent is the highest since September 2016, marking a 33-month high.
"The unemployment rate had risen sharply initially during the month of June 2019. During the week ended June 9, the unemployment rate was at its peak at 9 per cent. But, it has climbed down steadily since then. It was 8.5 per cent in the second week and then it fell further down to 7.4 per cent and finally to 7 per cent in the last week," CMIE said in its report.
Meanwhile, employment rate continued its fall, landing at the lowest level seen since CMIE started recording job data in January 2016, the report said.
"As of the first quarter of 2019-20, the employment rate was 39.6 per cent. This is the lowest quarterly employment rate at least since 2016. This ratio had improved smartly during the March 2019 quarter to 39.9 per cent from 39.7 per cent in the previous quarter. But, this increase could not be sustained and the ratio fell to its lowest level in the June 2019 quarter," the CMIE report said.
The employment rate has been steadily falling since June 2016 quarter and has declined by 3 percentage points over the past three years. This implies a fall in total employment, CMIE said.
However, the overall labour participation rate inched up after the dismal rural labour participation rate was offset by a higher urban labour participation rate. The overall labour participation rate was recorded at 42.8 per cent in June 2019, as compared to 42.74 per cent in May 2019 and 42.54 per cent in April 2019. Labour participation rate refers to the population between 16-64 years that is employed or is actively looking for jobs.
"The increase in the unemployment rate in June is partly the result of this increase in the labour participation rate. While labour did move into the labour markets, the markets could not absorb them entirely," CMIE said.
In the report, CMIE attributed the dire job scenario in June 2019 to a delayed monsoon. With the investment climate offering no hope, the job market is looking at a tough time ahead.
"This steady deterioration in the employment conditions in India can be stemmed or reversed only if the investment climate improves. India however, seems to show no signs of any improvement on this front. New investment proposals turned out to be much worse during the first quarter of 2019-20," CMIE said.
"Given that the monsoon predictions this year are not great, the continuing fall in investment enthusiasm does not augur very well for employment prospects in the near future," it further added.
ICSE Exam Results Declared for Class 10 and 12, two Students Score 100% Marks
Girls outshone boys in the ICSE Class 10 and 12 examinations, with two students scoring 100 percent marks.
This is the first time that students have scored 100 percent marks in the ISC exam.
The results of the ICSE class 10 and ISC class 12 were announced on Tuesday by Council for the Indian School Certificate Examinations (CISCE) chief executive and secretary Gerry Arathoon.
While girls achieved a pass percentage of 99.05 per cent in class 10 examination as against 98.12 per cent by boys, the pass percentage achieved by girls in class 12 examination is 97.84 per cent as against 95.40 per cent of boys.
Mumbai's Juhi Rupesh Kajaria and Muktsar's Manhar Bansal topped the class 10 ISCE examination with 99.60 per cent. The second rank has been shared by ten students with 99.40 per cent marks and the third rank has been shared by 24 students with 99.20 per cent marks.
Kolkata's Dewang Kumar Agarwal and Bengaluru's Vibha Swaminathan topped the class 12 ISC examination with 100 per cent marks. The second rank has been shared by 16 students with 99.75 per cent and the third rank has been shared by 36 students with 99.50 per cent marks.
90% reservation under Domicile Policy proposed by Jadavpur University Faculty Council
The Jadavpur University's Faculty Council of Engineering and Technology (FET) has recommended reservation of 90 percent of general seats in undergraduate courses under the domicile quota, an official said on Thursday i.e. March 7, 2019.
"The FET has recommended the implementation of domicile policy. Now, the decision will be forwarded to the Executive Council (EC)," said Chiranjib Bhattacharya, Dean of the engineering faculty.
Mr. Bhattacharya explained that the EC, the university's highest decision-making body, would give the final approval.
This is a major shift in policy, the proposal will be again sent to West Bengal's higher education council and only after that it will be implemented and it is a long drawn process.
Varsity's in favor of the proposal
As many as 13 out of the varsity's 16 engineering and technology departments were in favor of the introduction of the proposal.
CBSE files FIR against YouTube channels for uploading false paper leak videos
The Central Board of Secondary Education (CBSE) has filed an FIR against YouTube channels falsely claiming that they have access to original question paper of upcoming annual CBSE exams, said a statement from the Board.
The board is currently conducting annual examinations for Class 10 and Class 12 students across India and abroad, the YouTube channels have uploaded fake question papers of subjects in which examinations are yet to be conducted like accountancy, chemistry, geography paper of class 12 and English, mathematics, science papers of Class 10.
Steps taken by the CBSE Board against the fake videos on YouTube
According to the statement of Board, they have also requested Delhi Police in writing to take suitable and strict action against miscreants under provisions of IPC and IT Act, so that the examinations are conducted smoothly and all the measures taken by the Board for security concern is not adversely affected.
Since February 15, 2019, CBSE has conducted exams in 136 subjects so far.
Instructions by the CBSE Board
The CBSE Board's Public Relation Officer Rama Sharma said that the Board had also released instructions to all the students and parents to be aware of fake news regarding the paper leak, the fake question paper are made available on the various social media platform to create panic and confusion among students.