Narendra Modi government’s decision to offer 10% reservation in government jobs to the poorer sections of the country’s upper castes had brought the focus on India’s central public sector undertakings that employ around 11 lakh people. Public sector firms are among the country’s best employers with an average salary of Rs 14.45 lakh per annum.
The new reservation policy has come into effect on Monday, brightening up chances for candidates from hitherto unreserved categories to get employed in central government, public sector units, government-run banks and railways. The quota policy is also expected to offer relaxations in terms of age limit for job applicants from economically backward sections.
Central PSUs offer extremely attractive employment opportunities, as per capita salary in these companies has gone up from Rs 3.25 lakh per annum in 2006-07 to Rs 14.48 lakh per annum in 2017-18, a whopping jump of more than 440% in a period of 11 years.
There are 339 central public sector undertakings with a total turnover of Rs 21.56 lakh crore in the financial year ended March 2018. These include ONGC, Indian Oil, NTPC, BHEL and many more that are among the largest companies in the country.
Central PSUs advertise thousands of vacancies every year and follow the reservation policy applicable in the government departments, including age relaxations to SC/STs and other socially and educationally backward classes. CPSUs follow relaxation of five years in age limit for SC/ST candidates and three years for OBC candidates.
There are indications that the government may adopt the same income and age limit criteria applicable to other backward classes for giving 10% reservations to economically weaker sections. It is expected that the age limit will be raised by three years for general category candidates from economically weaker sections.
The Narendra Modi government has made history of sorts by notifying the new quotas within a week of its announcement on January 7. The government managed to pass the constitution amendment bill in the Lok Sabha and the Rajya Sabha in just two days. Now it has notified the Act on Monday after getting the presidential assent.
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Source: Financial Express