Economic Survey 2021: The budget session has started with the President’s address to Parliament. Before the budget, Finance Minister Nirmala Sitharaman presented the economic survey. In which he showed the picture of export based industries. According to the Economic Survey, the economic growth rate is likely to be -7.7% (Negative) during FY 2020 -21, while the economic growth rate is expected to be 11% during 2021-22. The survey said that the country will progress in the export of network products such as computers, electronic, electric appliances and telecommunication equipment. In the coming ten years, 17.35 crore jobs will be created in the country. The Economic Survey has given a strategy to make India a hub of network products (NP) to increase exports rapidly.
The Economic Review 2021 observed that economic growth in the lockdown was negative. But in the future it will remain with positive growth. Without lockdown, the country would have been greatly affected by the Corona epidemic. What Lockdow ensured helps in a coordinated response, which helped Saving Lives and Livelihoods.
The survey also suggested that 3.85 crore additional jobs could be created if India increases NP share in the world by 3.6 percent by 2025. According to the survey, 9.73 crore jobs are expected to be created by the year 2025, while by 2030 the number of jobs will reach 17.35 crore.
Job creation through PIL scheme
There has been unprecedented growth in the field of electronics manufacturing in India in the last five years due to visionary initiatives like “Digital India” and “Make in India” programs led by Prime Minister Narendra Modi. The National Policy on Electronics in 2019 makes India a global hub for electronics system design and manufacturing (ESDM) by focusing on size and scale, promoting exports and promoting domestic value by creating a supportive environment for the industry to compete globally. Is envisaged to be established as. The PLI scheme will usher in a new era in manufacturing mobile phone and electronic component parts. 11.50 lakh crore worth of production and 7 lakh crore rupees in next 5 years. Exports are being expected.
This scheme will create about 3 lakh direct employment opportunities in the next 5 years and with this will create about 3 times additional indirect employment of direct employment. Domestic value addition is expected to increase from the current 15–20% to 35–40% in the case of mobile phones and 45–50% for electronic component parts.