Daily Current Affairs 2021 Entrepreneurship will be strength of Indian economy: Jaitley | Daily Current Affairs 2021

Entrepreneurship will be strength of Indian economy: Jaitley

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Union Finance Minister ArunJaitley 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.
He added India had enough young population to service not only in the country but also in other countries which has resulted in a large Indian diaspora..
Jaitley noted the economy was changing and with it the country would need specialised and skilled people. While earlier the self-trained did not get social sanction, now those who had certified trainings were moving ahead in the social and economic ladder, he added.
“It is the survival of the fittest. Whoever comes out with the best entrepreneurial idea, he will be successful,” he added.
In order to promote entrepreneurship, the government has already given Rs 4 lakh crore in Mudra Yojana, of which 3 crore people are new beneficiaries, he said.

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