Union Finance Minister Arun Jaitley on Thursday said entrepreneurship is going to be a strength of the Indian economy as jobs in the public as well as organised private sectors are not enough for the country`s huge working population.”The strength of the Indian economy is going to be entrepreneurship. There is relevance of both skilling and entrepreneurship in India. In the government, both at Centre and the states, as also public sector enterprises, there is limited capacity of job creation,” Jaitley said.
He was speaking at the National Entrepreneurship Awards 2017 event held on the occasion of the third foundation day of the Ministry of Skill Development and Entrepreneurship.”In private organised sector, there is a larger capacity for job creation. But even if the two (public and private sectors) are taken together, the jobs are not adequate to service the population,” he said.
On the skilling front, Jaitley said there was need to “chisel” the large human resource and train them for jobs because as the Indian economy expands the requirement for skilled workforce will be large. The Finance Minister said while in developed countries where the population was stabilising or reducing, it was not the case in India. “In developed countries, they have difficulty in finding human resource to service their economy. But not so in India. We have more large population and more younger population, that is, more working hands,” he said.