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Job market eyes GST booster for over 1 lakh immediate openings

Source | Economictimes.com  |  BY:PTI

The job market is looking forward to a big boost from the new GST regime and expects over one lakh immediate new employment opportunities, including in specialised areas like taxation, accounting and data analysis.

The historic tax reform, to be rolled out from July 1, is expected to help the formal job sector attain an annualised growth rate of 10-13 per cent and fuel demand for professionals in various segments of the economy, experts said.

Indian Staffing Federation’s President Rituparna Chakraborty said the GST (Goods and Services Tax) will make procurement and distribution of goods much faster while cash flow is expected to become more predictable and profitability should improve, too.

“All these and the transparency of compliance shall make working with unorganised players exponentially less attractive thereby pushing the country towards greater formalisation,” she added.

“We are expecting an annualised growth to the tune of 10 -13 per cent in formal job creation on account of GST,” Chakraborty said.

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