The budget for the upcoming fiscal year aims to create around 350,000 new jobs whereas 500,000 youths enter the labour market every year, by the government’s own estimates.
At a time when the Covid-19 pandemic has badly affected the income prospects of the general public and disrupted employment opportunities, the government has cut down its target for jobs creation for the fiscal year 2021-22.
The budget for the upcoming fiscal year, presented by Finance Minister Bishnu Prasad Paudel on Saturday, aims to create less than 350,000 new jobs in 2021-22 through its employment-related schemes and plans.
Not only is the target down by half than that of the ongoing fiscal year 2020-21, it is also far below the number of young people entering the job market every year—nearly 500,000, according to government estimates.
“For ensuring dignified employment to all the citizens, work and employment opportunities will be created in coordination and cooperation with the government, private, cooperative and non-governmental sectors,” said Minister Paudel reading out the budget.