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Gig economy creates more jobs: Kovind
President Ram Nath Kovind has predicted generation of more employment opportunities in the specialized manufacturing, service sector and digital economy and that this informal or the gig economy will only expand further.
Amaravati: President Ram Nath Kovind has predicted generation of more employment opportunities in the specialized manufacturing, service sector and digital economy and that this informal or the gig economy will only expand further.
The President felt that the era of formal jobs was on the way out. “We have to understand it and devise policies that are in tune with the changing world. We need to design social security measures and safety nets that protect workers,” the President suggested to the policy makers.
Speaking at the inaugural of the centenary of Indian Economic Association at Acharya Nagarjuna University on Wednesday in Guntur district, Kovind stated that to achieve the dreams of New India by 2022, when our country commemorates the 75th anniversary of the Independence, we need to address the social and economic inequalities.
The President observed that as many of the issues related to poverty reduction are in the State List addressing them at local and state level with an appropriate policy mechanism and rollout will drive forward the Indian Development Experience.
He said that in an era of cooperative federalism, and particularly after the implementation of the report of the 14th Finance Commission, which has transferred more funds to the states, there is a lot of responsibility and hope that rests with various states.
Kovind suggested that the “devolution of funds needs to be complemented by evolution of ideas”. That is how states will benefit and ultimately India’s social, developmental and macro-economic needs will be met, he added.
The President requested the economists to work more and more with the state governments and offer them counsel and recommendations that are specific to their regions and demographic profiles. In this context, Kovind congratulated AP Chief Minister N Chandrababu Naidu for making the state a leader in economic thinking and initiatives and for skillfully converting policy prescriptions into projects on the ground.
Before addressing the gathering, the President formally inaugurated the conference by lightening a lamp. AP Governor ESL Narasimhan, Naidu, Noble Laureate Prof Muhammad Yunus of Bangladesh, conference president Dr C Rangarajan, IEA president Sukhadeo Thorat, ANU Vice Chancellor A Rajendra Prasad and many other delegates participated.
