Business Today spoke to Moorthy K. Uppaluri, CEO, Randstad India on his expectations from Budget 2014.
FULL COVERAGE:Modi government's first budget
1. The infrastructure sector should get a boost through more investments and increased public-private partnership models to overcome structural bottlenecks.
2. Reforms in the labour market through simplification of labour laws and introduction of e-governance will make systems simpler and more efficient, facilitating the growth of the organised labour force which will bring back capital into the system.
3. The banking and manufacturing sectors will also play an important role to drive economic growth. We have already noticed a positive move towards granting new bank licences, and executing such policies over a sustained period, along with the introduction of manufacturing corridors, will result in a huge number of job opportunities.
4. Given that the skill gap is a perennial issue in India, the government should be creating initiatives that will overcome the issue of widening skills chasm, promote capability development and foster higher education and research.
Moorthy K. Uppaluri is CEO, Randstad India.