Comments by "Raju" (@rajx7120) on "“We're no longer committed to a 3% fiscal deficit target”, says Finance Secretary TV Somanathan" video.

No ! It's due to low demand. Savings have not recovered after pandemic. Now, Congress wants khatakhat cash handouts for this But they are suggesting as permanent measure, which will cause hyper-inflation. So, one time tax cuts need to be done by any govt - Centre and/or states.
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@vaishakh3 Lack of skills is real. It's not an excuse. Training freshers is expensive. That too in recessionary environment, companies as re going to be less inclined to hire freshers. Can't you see, all job openings are for experienced only? As Mr. Somanathan said, this subsidy is a way to help with the training costs for a company. It is obviously not a replacement for low demand. It is not solving employment but addresses employability.
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@vaishakh3 High value jobs also need skills. And while it is good, it will also reduce jobs. People need to have some alternative income other than jobs. Perhaps, some Universal Basic Income or, unemployment allowance, or have investments that pay dividends. Or maybe some rule that, with increase in productivity, working hours be reduced, in order to hire more, although I am not sure if it would work.
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@vaishakh3 I am not woke. Technology esp AI is going to kill jobs. Half the call centre jobs are replaced by chatbots. I am no commie. And I would like some solutions through capitalism itself. Apart from UBI, I also gave other solutions like having investment corpus. Regarding India, we are already having unofficial Universal Basic Income while having low productivity and supply-chain losses. 😝
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