Budget 2025 to drive job creation across key sectors, say experts

The budget proposals are expected to spur job creation across sectors as diverse as manufacturing, tourism, agriculture, leather, mining, healthcare, aviation, electronic equipment, startups, retail, real estate, MSMEs and global capability centres (GCCs).Experts said the budget is fundamentally focused on creating more jobs and boosting skill development. The proposals outlined will boost positive sentiment in the hiring market, they said.

“Budget 2025 gives employment generation topmost importance… for instance, the National Manufacturing Mission, with a special focus on EMS manufacturing, leather, footwear and the cotton and textile industries, is projected to generate 22-30 lakh new jobs in these sectors alone,” said Kartik Narayan, CEO (staffing), TeamLease Services.

More cash in hand due to reduction in tax rates will lead to increase in discretionary spends, generating demand in FMCG and consumer sectors, which will further fuel employment generation, he said. One-year internship for 10 million youth, MSME growth and tourism investments will increase employment. Increased consumer demand will be reflected in hiring in the retail, real estate and manufacturing sectors.

Guruprasad Srinivasan, group CEO at Quess Corp, said the biggest beneficiaries in terms of job creation are likely to be GCCs and the manufacturing sector, courtesy initiatives like the Manufacturing Mission to further Make in India. “The national framework to states for promoting GCCs in emerging tier-2 cities will not only help decluster overcrowded metros but give more spending power and create economic activity in those cities, contributing to indirect job creation across ecommerce, Q-comm, consumer retail, among others.”

The budget underscores a strong commitment to employment-led development, with a boost to labour-intensive sectors like leather, footwear and toys, said Nagesh Bailur, chief financial officer, Randstad India. “The Rural Prosperity and Resilience Programme has the potential to foster an equitable rural job market, boost employment in agriculture by equipping rural talent and build sustainable livelihoods. Additionally, the focused support for MSMEs and startups will not only drive innovation but also generate new jobs, strengthening India’s global competitiveness,” he said.