Stimulus packages generated 19 per cent new jobs: Assocham
Industry body Assocham has claimed that the stimulus measures has helped industry in creating 19 per cent more jobs during October-January 2009-10 over the same period last year.business Updated: Feb 21, 2010 11:56 IST
Industry body Assocham has claimed that the stimulus measures has helped industry in creating 19 per cent more jobs during October-January 2009-10 over the same period last year.
The chamber said the fiscal incentives, like cut in excise duty and service tax, announced by the government has helped several sectors to register profits and create jobs.
"The strong pickup in domestic industrial production and improving export orders have led to acceleration in the job creation process," it said.
Industrial production registered a growth of 16.8 per cent in December, which is a 16-year high.
The stimulus provided by the other countries boosted the international trade, which also increased the export and import activities in India and created jobs in manufacturing and merchandising sectors, Assocham said.
The automobile sector registered 24 per cent growth in job creation during October-January 2009-10 over the same period of last year, it said adding hospitality segment recorded 19 per cent growth in employment generation.
The other sectors that have created jobs includes insurance, banking, engineering goods, computer hardware, telecom and retail, it said.
However, sectors like agriculture, FMCG, HR and textile sectors recorded marginal decline in job creation during the period, it added.