An unprecedented budget with jobs and growth at the focus. With the focus on Infrastructure (with an increase of Rs.70,000 cr from last year that will ably support Make in India), Entrepreneurship, Ease of doing business and Pin code level job generation (increased investment in MNEREGA scheme that will support rural job creation) the budget on one hand has the potential to generate 10 million jobs. On the other hand will also help in increasing organized workforce as it encourages first generation entrepreneurs through SETU(Self- Employment & Talent Utilisation fund & MUDRA bank) , takes first steps towards universal social security system and brings good news to the lower income groups by proposing contribution to PF optional for low income groups(without impacting contribution from employers) and giving a choice to them to invest in ESIC .

·         The FM has presented a never before, Pragmatic , and inclusive budget. Reduction in Corporate tax is welcome and smart move. Investment in Infrastructure, legislation for reducing complexities of ease of doing business, exceptional support to encourage first generation entrepreneurs (by 1000 cr Self employement & Talent Utilisation fund, Formal credit system for entrepreneurs and MUDRA bank)  reiterates government’s focus on growth of the country.

·         While the Government focused on encouraging innovation through investments like Atal Innovation Mission (Rs. 150 Cr investment) and SETU fund(1000 cr Self employement & Talent Utilisation fund), It was good to see some unprecedented “long-term” moves from the Government. We are sitting on a time bomb when it comes to social security system and the first steps towards Universal Social Security systems have been taken. Focus on employment generation at the pin-code level (fueled by rural jobs through MNREGA) is a welcome and much needed move. If all the plans announced are implemented with  equal focus, then Growth and development of India will no longer be aspirations, they will turn into reality that we all will live to experience

·         It is a welcome step that the focus of Government is increasingly shifting from “Literacy” and “Education” to “Skill Development” and “Educating to Employment” . India has an increasing number of “working” population and out of which hardly 37% are employable (Source: India Skills Report 2015 by PeopleStrong, Wheebox, CII & LinkedIn).  Initiatives like National Skills Mission for skill development and entrepreneurship(fund of 1500 cr), focus on Skill India campaign and increasing the reach and quality of education  will definitely speed up the progress on the path towards Skilled and Employable workforce, and will work towards the “Quantum Jump” that FM is looking for.