There is a drastic move in the Indian job market since independence and it has affected both the private and public sectors. Government jobs has witnessed a sharp increase since nationalisation and its impact can be seen even in the post liberalization period.
In India , a government-owned corporation is termed a Public Sector Undertaking (PSU). This term is used to refer to companies in which the government (either the federal union government or the many state or territorial government, or both) own a majority (51 per-cent or more) of the company equity. There are 251 PSU companies in India as of 2012.The composition of the public sector includes such services as the military, police, public transit and care of public roads, public education, banking along with healthcare and those working for the government .
The organized sector in India consists of 293.77 thousand industrial establishments. Out of these, 172.34 thousand are public sector enterprises while 121.43 thousand are in private sector.
Since 2004, an increase of 1.4% has been recorded in the number of establishments in the organized sector. As on the 31st March, 2005 the total employment in the organized sector was estimated to be 264.58 lakh while in 2004, it was 264.43 lakh. This means there has been an increase of 0.1% in employment. The public sector employs about 180.7 lakh persons while the private sector employs 84.52 lakh persons.
As per the result of Census Enquiries, the total regular employment under Central Government as on 31st March, 2009 was 30.99 lakh
Employment in Ministry of Railways was the highest (44.74%) followed by the Ministry of Home Affairs (24.14%), Defence civilian (11.77%), Communications & IT (7.06%) and Finance (3.49%). Other Ministries/Departments collectively shared the rest of 9% of the total Central Government regular employment. (3). Out of 30.99 lakh regular employees, 3.11 lakh were women.
REGULAR CENTRAL GOVERNMENT EMPLOYMENT IN MAJOR MINISTRIES AS ON 31ST MARCH, 2009
|S.No.||Ministry||N umber of regular employees||% age to the total|
|1||Communication & IT||218788||7.06|
The Ministry of Railways has a major share (44.74%) of the total regular Central Government employees followed by Ministries of Home Affairs (24.14%), Defence (civilian) (11.77%), Communications & IT (7.06%) and Finance (3.49%). These five Ministries taken together accounted for 91% of the total Central Government employment. The residual employment (about 9%) was shared by all the remaining Ministries/Departments of the Central Government.
The National Sample Survey Organisation’s report on employment in India, 2011-12, released in end-June, indicated that 13.9 million more people were employed in 2011-12 than in 2009-10
Level of employment –All India (sectoral employment in millions)
|mining and utilities||4||5|
If we look at the government banking jobs we will see a huge scope . public sector banks in India employ more than 7 lakh people at present. Of these a large number of people will be retiring in next 5-6 years. To fill this gap and to take up the growing business
The Banks are on a recruiting spree as can be seen in media and from vacancy announcements. Only this year about 40,000 vacancies have been created in public sector banks due to retirements, resignations and expansion of business.
Earlier recruitments in public sector banks were made through Banking Service Recruitment Boards. Each board was taking care of manpower requirements of 3-5 banks in a certain geographical area. Now the boards have been abolished and each public sector bank may announce it’s own recruitment process for the number of people required from time to time. Thus more such advertisements are seen these days. Another change is seen in lateral hiring by these banks. Earlier officers were recruited only in Junior Management Grade. Now public sector banks are offering direct employment in middle and senior management cadres as well. Thus for both freshers and experienced people career opportunities are available in public sector banks. To meet their manpower requirements these banks are presently recruiting in large numbers both in clerical and officer cadre
Compensation in these banks with the recent wage revision and including perquisites is quite good. And there is an element of job security too. The housing and medical facilities are also considered attractive.The expansion mode in which public sector banks in India are, is creating large number of opportunities for young people to choose banking as their career.
Impact of new government
India is very much hopeful with the new government. The kind of strategy the then state chief minister was pursuing in Gujarat vis-à-vis the state public sector undertakings makes many hopeful about a resurgent Central public sector entities (CPSEs). Mr. Modi gives a free hand to babus and let them function with least political interference, which is why the new government is accorded a grand welcome by the PSU leaders
So we can see that government jobs played a major role in indian economy from the beginning and there is a huge scope of it ahead. ts going to give job to a huge numbers in coming times