- Manmohan Singh: Indian economy to grow at 5 pct, despair unwarrantedAs fiscal deficit target in India turns hard-to-handle, govt orders banks to pay interim dividendCAD in India will come down to $50 bn in 2013-14: Arvind MayaramInflation in India to moderate in coming months: Arvind Mayaram
According to manpower employment outlook survey, it has reported that in 2013, India has weakest hiring outlook in the Asia Pacific in the past eight years. Although 2013 comes to end and experts believe worst may be over on hiring front thus Human resource professionals needs to know what 2014 is going to bring, with that employees can even look forward to double digit hike.
The sectors that are likely to drive the job market include IT, healthcare, education, development sector moreover the new retail banking licenses are also expected to give a decent hiring trend in year 2014. The hiring in agriculture sector is expected to boom in 2014 as agriculture sector is increasing at a growth of 100% (2% in 2013 and expected at 4% in 2014). Some more hiring zones which need to be watched, especially for mid and senior level hiring would be Start Up’s. While e-commerce start ups may continue to explore their way to break even, we may see further consolidation in the sector thus not resulting in much job growth, however overall Start Up genre would create good no. of jobs in 2014. It is expected manufacturing to chip in as well towards the end of 2014 with its share of new job offerings.It is also regarded that India is a logical business hub with well qualified young and dedicated work force and regards to demand for talent the report forecasts an increase in demand at the middle management level across all sectors. Cutting back on hiring entry- and junior-level staff, Indian companies are increasingly looking to hire experienced professionals who would hit the ground running from day one
Seeing the past scenario, India over the last two years has actually gone through a phase of policy paralysis on account of unearthing of too many scams. The sentiment further got dampened with low growth, high inflation; high interest rates etc. etc., thus creating an environment of pessimism. This led to a belief that govt. is not serious about growth and businesses stopped investing in new projects or held back their expansion plans. These resulted in no new jobs being created and delay in appointment of replacement positions especially in non-core areas of a business. While finance minister has been trying to fix issues in the economy by controlling the current account deficit, fiscal deficit and RBI governor trying to rein in inflation, some of the decisions