Parliamentary committee recommended to mobilize new means of employment and livelihood of youth

A committee of Parliament said that the central government should pay special attention to employment generation and creating new means of livelihood for the youth. This has been stated in the report of the Standing Committee on Ministry of Micro, Small and Medium Enterprises (MSME) headed by Dr. K. Keshav Rao. The report was tabled in Parliament on Tuesday.

According to the report, the committee is of the view that the stimulus package announced by the government for the economic revival of the pandemic-hit economy is inadequate as the measures taken so far are meant to offer credit rather than improving cash flow as an immediate relief to generate demand. and have more long term solutions. It said that after the first wave of the pandemic, when the process of economic recovery was going on, the second wave devastated the economy especially of the Micro, Small and Medium Enterprises (MSME) sector. The committee recommended, the government should immediately bring an economic package aimed at boosting demand, investment, exports and job creation to help the economy, including the MSME sector, recover from the pandemic. According to the report, the committee also recommends that for the survival of small industries, the government should provide liquidity to new enterprises to continue business and create job opportunities for the workforce. It said that due to the COVID-19 pandemic, a large number of people lost their jobs and the financial condition of the families was hit and their regular income during the lockdown period was recorded. The committee recommends that the government should pay special attention to employment generation and creating new means of livelihood for the youth.