In the meeting held last week by G20 ministers. The minister said that the meet also stressed on the importance of a policy environment that supports innovation and inclusive growth.
"All the countries have acknowledged that priority should be given to create more and better jobs, increase labour force participation, reduce underemployment and facilitate the transition from informal to formal economy", says Labour Minister Bandaru Dattatreya
G20 Session insights:-
There was a consensus that the pro-employment macro economic and structural policies play an essential role in generating job opportunities, the minister said, "We decided that we will support a comprehensive and coordinated approach which places employment promotion as the priority in our national economic and social development strategies."
The minister said that the G20 Labour and Employment Ministerial Declaration, which was adopted at the end of the meet, will now be presented to the Head of the States summit scheduled on September 4-5, 2016, in China.
The minister said that the meet also stressed on the importance of a policy environment that supports innovation and inclusive growth.
"¢ The Declaration recapitulate the commitment of the G20 to work in collaborations to find the solutions to the challenges of slow economic growth and low job creation which is still flutter around all the world economies, he added
"¢The theme of innovation-led growth and employment generation through entrepreneurship model in perfect sync with India's own strategy for inclusive development, he said
Government flagship program for boosting the employment Growth:
"¢India highlighted the government's initiatives and achievements in the areas of employment generation, social security and strengthening of labour Market institutions for promoting inclusive labour markets, Dattatreya said
"¢"Start Up India, flagship initiative of the government, for boosting innovation and technology driven entrepreneurship and to capture youth aspirations in the country, was recognised by the G20 forum," he said
"¢The governments, as well as the social partners, also appreciated the India's initiative to bring the construction workers in the fold of formal social security cover. "The manifestation of decent work for India is in our commitment for job security, wage security and social security for every worker," the minister added.