Private sector needs to be proactive to match govt's efforts towards job creation: Anand Mahindra

Job creation: Mahindra Group Chairman Anand Mahindra has asserted that India's private sector must enhance its efforts to match the government's initiatives in job creation and youth employability. As per Mahindra, without a collective effort, the country's demographic dividend could turn into a demographic disaster.

Reacting to the Union Budget for 2024-25, Mahindra acknowledged the government's recognition of the crucial link between economic growth and job creation. "We are the envy of the world in terms of our GDP growth. We are the preferred destination for global investment because of the confidence in our future," Mahindra stated in a post on social media platform X.

He highlighted the importance of ensuring that economic growth is paired with substantial job creation. "The most critical aspect of yesterday's budget is the clear evidence that the government sees job creation as its foremost mission. Skilling the youth to make them employable is equally important as creating jobs," Mahindra added.

Mahindra praised the schemes announced by Finance Minister Nirmala Sitharaman, calling them promising. However, he stressed the importance of closely monitoring these schemes to ensure the effectiveness of the incentives and making necessary adjustments.

Urging the private sector to contribute, Mahindra stated, "The private sector needs to step up to the crease and do its part by investing in both employment and employability."

He cautioned that without a unified effort, the demographic dividend could revert to being a demographic disaster. "If we don't all pull together for this task, the demographic dividend will go back to being a demographic disaster," Mahindra warned.

(With PTI inputs)