Union Budget: FM announces job portal

NEW DELHI, INDIA: Union Finance Minister Pranab Mukherjee, who presented today the Union Budget for the financial year 2009 1010, proposed the setting up of a job portal which can provide details on skills available (which means job seekers) and also job opening “across the sectors and across the country”.

“The job portal will connect all the employment exchanges in the country,” he said.

The minister also pointed out that the job creation in the country has been affected due to global financial slowdown. The government aims to create 12 million new jobs each year and reduce poverty by half by 2014.

Aims 9 p.c GDP

Pointing towards the slowdown in the GDP growth rate, Pranab Mukherjee said the Government has to bring the annual growth to 9 per cent and should focus on inclusive growth.

The GDP growth rate in 2008-09 dipped to 6.7 per cent from average 9 per cent growth in previous three fiscal years, Mukherjee said. Observing that the government would lead the economy back to growth range of nine per cent per annum, he said a 'single budget speech can't solve all our problems'.

The minister also pointed out that the fiscal deficit grew from 2.7 per cent to 6.8 per cent of GDP. The total fiscal stimulus during 2008-09 amounts to Rs 1,86,000 crore (Rs 1,860 billion), he added.

While presenting the budget, the minister brought some cheers for corporate taxpayers, as he announced the proposal to abolish the fringe benefit tax. Ever since the introduction of the FBT, companies have been demanding abolition of this tax.