Need to tackle Unemployment with a Vision
The recession has brought in unemployment . The ripple effect of the melt down has reached the shore of realty sectors, investment banking sectors and later it took under its spell all export oriented industries. The slow down in bank, retail and automobile industries have greatly affected IT and IT related industries. Many industries have laid off workers and executives. unemployment inUSA has touched 5,00,000 person in November against economist's predication of 2,00,000. It is understood that Mr. Obama hopes to launch a stimulus program that helps drive the agenda of his presidency: improving the nation's power grid in ways that reduce carbon emissions and cut energy costs, shoring up roads, bridges and tunnels, and computerizing medical records so that doctors have up-to-date information on patients.
The financial institutions of India have stood their ground as banks were not involved in sub prime situation. For enduring support of RBI and Government of India liquidity position of Indian banks have stabilized to a great extent. But unemployment situation have worsened as the recession has set in. Again Repo rate needs to be brought down to ensure growth & employment.
The recession in Steel, Graphite and Aluminum, affected graphite electrode industries, Calcined Petroleum Coke industries, Electrode carbon paste industries even Refineries. All the four refineries of Assam producing best petroleum coke of the world are carrying higher inventories. There are no takers of RPC. The IOC is bound to bring down price to generate demand. In Assam, unlike other states, none of the industries have laid off workers till now. But only time will dictate how long industries will be able to sustain the pressure. Rural employment could be generated, by State, promoting small industries and starting farming through private & public joint enterprise. It would create large employment.
The recession has created highly educated unemployment in India. Some of the companies like Syntel and Wipro have postponed the appointment of engineers. Engineering graduates of 2008 are only expected to join in the third quarter of 2009. Wipro has even reduced the salary from 2.75 lakh a year to 1.30.lack a year. Though salary has since been reinstated but the condition of working in a BPO first has become mandatory for 18th months before getting a hardcore technologists job. . With such offer engineers are feeling nervous. Under the circumstances what new students are going do?
Hitherto, the recession had affected world for a maximum period of eighteen months. But this time employment creation will be effected at least for three years. The new boys passing out higher secondary may think of Power Engineering. The graduate courses are available in Jadavpur University and IITs have post graduate level. Graduate engineers can take MTech. Course now .Within three years infrastructure areas would develop so power sector & civil engineering would get a new lease of life. This is the time for “Core Engineering” courses (Mechanical, civil, and electrical) rather than IT sectors. However IT would comeback in great demand after four years.
More than the organized sector, workers at the unorganized sector are getting affected. There are lots of workers working in diamond polishing & other small scale industries. Workers in handicraft segment, hospitality and tourism industries are greatly affected. In organized sector the most effected area are BPO, IT & automobile. No new job creations are envisaged in aviations, steel and cements too.
What is to be done now? Those persons who have lost jobs may try to utilise the time by developing new skills. They can take up course for SAP, join MBA or Chartered Financial Analyst course. These are new areas with ample opportunities. The course in animation, power engineering, and environmental engineering and bio technologies may be thought of. Fresh graduates can take up some assignments in well known companies even in low salary, waiting for better assignments, where skill can be learnt. HCL, Vodafone and Idea may take engineers in Assam. Public sectors jobs offer decent opportunity for advancement now. Graduates from Arts, science and commerce can prepare for jobs in banks, insurance and civil service.
The enhancement of productivity would be the watch words for workers. Gone are the days when workers could ignore the productivity and revolt. (Dunlop offered monthly compensation of Rs2000/- P.M to all workmen for temporary period to avoid recession. CITU Trade unions agreed but workers disagreed resulting in suspension of work.) The workers may avoid lay off and forced leave concept by discussing with employers for increased work load & cost reduction methods temporarily. Steel and aviation industries have accepted temporary pay cut and are surviving. Industry may be able to avoid lay off for sometime with better productivity. The recession may engulf all of us. We need to fend for ourselves with patience by developing new skills and government by developing new areas like private farming.
The financial institutions of India have stood their ground as banks were not involved in sub prime situation. For enduring support of RBI and Government of India liquidity position of Indian banks have stabilized to a great extent. But unemployment situation have worsened as the recession has set in. Again Repo rate needs to be brought down to ensure growth & employment.
The recession in Steel, Graphite and Aluminum, affected graphite electrode industries, Calcined Petroleum Coke industries, Electrode carbon paste industries even Refineries. All the four refineries of Assam producing best petroleum coke of the world are carrying higher inventories. There are no takers of RPC. The IOC is bound to bring down price to generate demand. In Assam, unlike other states, none of the industries have laid off workers till now. But only time will dictate how long industries will be able to sustain the pressure. Rural employment could be generated, by State, promoting small industries and starting farming through private & public joint enterprise. It would create large employment.
The recession has created highly educated unemployment in India. Some of the companies like Syntel and Wipro have postponed the appointment of engineers. Engineering graduates of 2008 are only expected to join in the third quarter of 2009. Wipro has even reduced the salary from 2.75 lakh a year to 1.30.lack a year. Though salary has since been reinstated but the condition of working in a BPO first has become mandatory for 18th months before getting a hardcore technologists job. . With such offer engineers are feeling nervous. Under the circumstances what new students are going do?
Hitherto, the recession had affected world for a maximum period of eighteen months. But this time employment creation will be effected at least for three years. The new boys passing out higher secondary may think of Power Engineering. The graduate courses are available in Jadavpur University and IITs have post graduate level. Graduate engineers can take MTech. Course now .Within three years infrastructure areas would develop so power sector & civil engineering would get a new lease of life. This is the time for “Core Engineering” courses (Mechanical, civil, and electrical) rather than IT sectors. However IT would comeback in great demand after four years.
More than the organized sector, workers at the unorganized sector are getting affected. There are lots of workers working in diamond polishing & other small scale industries. Workers in handicraft segment, hospitality and tourism industries are greatly affected. In organized sector the most effected area are BPO, IT & automobile. No new job creations are envisaged in aviations, steel and cements too.
What is to be done now? Those persons who have lost jobs may try to utilise the time by developing new skills. They can take up course for SAP, join MBA or Chartered Financial Analyst course. These are new areas with ample opportunities. The course in animation, power engineering, and environmental engineering and bio technologies may be thought of. Fresh graduates can take up some assignments in well known companies even in low salary, waiting for better assignments, where skill can be learnt. HCL, Vodafone and Idea may take engineers in Assam. Public sectors jobs offer decent opportunity for advancement now. Graduates from Arts, science and commerce can prepare for jobs in banks, insurance and civil service.
The enhancement of productivity would be the watch words for workers. Gone are the days when workers could ignore the productivity and revolt. (Dunlop offered monthly compensation of Rs2000/- P.M to all workmen for temporary period to avoid recession. CITU Trade unions agreed but workers disagreed resulting in suspension of work.) The workers may avoid lay off and forced leave concept by discussing with employers for increased work load & cost reduction methods temporarily. Steel and aviation industries have accepted temporary pay cut and are surviving. Industry may be able to avoid lay off for sometime with better productivity. The recession may engulf all of us. We need to fend for ourselves with patience by developing new skills and government by developing new areas like private farming.
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