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Hiring Scenario Reactions to Budget 2012-13 by Mr. Uday Sodhi, CEO, HeadHonchos.com

Based on the Union Budget 2012-13, we believe that the senior hiring scenario in the year ahead would be good to stable.

 
PRLog - Apr. 18, 2012 - DELHI, India -- India’s premier job search portal exclusively for senior management professionals. Based on the Union Budget 2012-13, we believe that the senior hiring scenario in the year ahead would be good to stable. Programs have been initiated across the agricultural, manufacturing and infrastructure sectors to fast track growth and will lead to a renewed vigour in organizations associated with these sectors and they will witness hiring at senior levels.
Hiring will pick up to leverage the increased scope for growth in agriculture, and also in manufacturing related organizations. As a direct push to the services sector is limited, thus hiring in the services sector will remain stable for the earlier part of FY 2012-13. Hiring at senior levels will see impetus in retail and aviation if the government is able to chart a clear pathway for FDI in these sectors. The move to allow ECB borrowings for financing power and housing projects will have a positive outcome on the infrastructure vertical.
Overall, a consumer-friendly budget will drive demand for senior professionals across organizations, in the next 2-4 years as economic activity in the country gets an impetus on the back of increased consumer spending.

SECTOR WISE ANALYSIS
Agriculture:
Impact on hiring: Positive   
•   Continual high performance of the sector and impactful share in GDP
•   Sector to be a priority for Govt, agricultural credit target raised to 5.75 L crores
•   To set up finance for minor irrigation works
•   RKBY under 300 cr for irrigation program
•   500 cr for aquaculture


Automobile
Impact on hiring: Neutral/ slightly negative
•   Duty on large cars raised from 22- 24 %

Aviation
Impact on hiring: Positive
•   49% FDI to be considered (no progress yet)
•   Allow external commercial borrowing of up to $1 bln to raise working capital for airlines industry for 1 year

BFSI
Impact on hiring: Positive   
•   new bill for micro-finance cos
•   15880 crores for PSU Banks
•   5000 cr for venture fund by SIDBI for MSMEs aid
•   Measures to boost equity market
•   81 Regional Rural Banks have migrated to core banking


Construction/ Cement/ Steel
Impact on hiring: Positive
•   8800km of highway building
•   Increased focus on low cost housing
•   General impetus to infrastructure and warehousing


FMCG, Consumer Durables
Impact on hiring: Slightly negative to stable   
•   Minor changes in tax rates
•   Increase in indirect tax

Infrastructure   
Impact on hiring: Positive
•   Tax free infra bonds doubled to 60,000crores
•   Encourage PPP models for road construction
•   8800km of road projects
•   First infra debt fund with a outlay of Rs 8,000 cr has been launched

IT/ ITes   
Impact on hiring: Slightly Positive
•   Adhaar getting more mainstream
•   Direct money transfer to be initiated
•   Core banking being rolled out further

Telecom
Impact on hiring: Neutral   

Media & Entertainment
Impact on hiring: Positive
•   Tax sops for Bollywood

Manufacturing / Engineering   
Impact on hiring: Positive
•   Manufacturing industry on revival
•   Delhi-Mumbai industrial corridor has made progress

Healthcare & Pharma
Impact on hiring: Positive
•   Multispectral programs to address maternal nutrition to be rolled out in select districts            
•   Proposed national mission for food processing
•   14,000 cr for rural drinking water and sanitation

Power/ Energy
Impact on hiring: Positive
•   ECBs to part finance power projects
•   Power loom mega cluster in Ichalkaranji in Maharashtra
•   Thermal power cos exempted from duty for 2 yrs

Real Estate
Impact on hiring: Positive
•   Allow ECBs for housing projects

Hospitality & Tourism
Impact on hiring: Marginally Positive   

Warehousing    
Impact on hiring: Positive
5000 crore allocated

Education
Impact on hiring: Positive
•   Proposed 6000 new schools in 2012-13
•   7 more govt medical colleges
•   Increased budget to various universities

Visit http://www.headhonchos.com/ for details

About HeadHonchos.com

HeadHonchos.com is India’s premier job search portal, exclusively for senior management professionals. It has been founded by ABC Consultants, pioneer of organised recruitment services in India, with a vision to redefine senior management recruitment and to offer experienced professionals a robust online model that addresses their specialised job search requirements.  

HeadHonchos.com provides a comprehensive listing of authentic, senior level jobs across industries in India, and a large database of senior management professionals for recruiters and employers. It also offers a range of specialised services that facilitate senior recruitment.

Visit :- http://www.headhonchos.com/ for details

# # #

About HeadHonchos.com

HeadHonchos.com is India’s premier job search portal, exclusively for senior management professionals. It has been founded by ABC Consultants, pioneer of organised recruitment services in India, with a vision to redefine senior management recruitment and to offer experienced professionals a robust online model that addresses their specialised job search requirements.

HeadHonchos.com provides a comprehensive listing of authentic, senior level jobs across industries in India, and a large database of senior management professionals for recruiters and employers. It also offers a range of specialised services that facilitate senior recruitment.

Visit :- http://www.headhonchos.com/ for details

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Source:Shine Kapoor
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Location:Delhi - Delhi - India
Industry:Services, Human resources
Tags:job, search portal, senior hiring
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