A Committee on Angel Investment and Early Stage Venture Capital was constituted in the Planning Commission comprising officials and non-officials. The Committee has submitted its report which, inter-alia, recommended that accelerating entrepreneurship and business creation is crucial for large-scale employment generation. Moreover, entrepreneurship tends to be innovation-driven and will also help generate solutions to India’s myriad social problems including high-quality education, affordable health care, clean energy and waste management, and financial inclusion. Entrepreneurship-led economic growth is also more inclusive and typically does not involve exploitation of natural resources.
Government has taken several steps to provide more opportunities of livelihood to all those who seek employment. A provision under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA), 2005 has been made to provide at least one hundred days of guaranteed wage employment in every financial year to every household whose adult members volunteer to do unskilled work. Government is taking all necessary steps to enhance the employability and employment in the country by promoting growth of labour intensive sectors such as Construction, Real Estate and Housing, Transport, Tourism, Micro, Small and Medium Enterprises, Information Technology Enabled Services and a range of other new services.
Government of India has also been making constant efforts through normal growth process and implementing various employment generation programmes, such as, Swarana Jayanti Shahari Rozgar Yojana (SJSRY); Prime Minister’s Employment Generation Programme (PMEGP) and National Rural Livelihood Mission besides entrepreneurial development programmes run by the Ministry of Micro, Small & Medium Enterprises.
Approach Paper to the 12th Five Year Plan (2012-17) suggests focus on faster, sustainable and more inclusive growth for creating adequate livelihood opportunities. Such job opportunities could come from faster expansion in agro-processing, supply chains, steady modernization in farming, maintenance of equipment & other elements of rural infrastructure and the services sector.
The Minister of State for Labour & Employment Shri K. Suresh gave this information in reply to a written question in the Lok Sabha today .
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