Finance Minister's big statement, quote – Employment generation is the biggest global issue

Washington : During her visit to America, Finance Minister Nirmala Sitharaman has described the issue of employment as the biggest global issue. He has expressed hope of cooperation from the World Bank and has talked about identifying such skills, which can significantly increase the chances of getting selected in employment generation.

Sitharaman was speaking at a discussion on 'How the World Bank should set its future strategic direction and help clients create more jobs to keep pace with emerging megatrends'.

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The Finance Ministry gave information on its official account on the social media platform ' “We are redefining the skills needed to enter the job market.”

In her intervention at the plenary lunch, FM Smt. @nsitharamanwhile speaking on the topic “How Should the World Bank Shape Its Future Strategic Direction and Help Clients Create More Jobs to Keep Pace with Evolving Megatrends,” emphasised that jobs are the most pressing global… pic.twitter.com/LNatWZCXQR

— Ministry of Finance (@FinMinIndia) October 24, 2024

Danger of job loss due to AI trend

He said on Thursday that the World Bank has earlier conducted several studies on regional trends and their possible impact on employment. In these, studies were conducted on topics like 'Green Jobs', jobs after the introduction of Artificial Intelligence and changes in sectors due to changing demography etc. However, he stressed that the need of the hour is to conduct a more comprehensive, multi-regional analysis. It should consider how emerging trends interact and affect both job losses and employment generation.

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Focus on retaining labor

In his address, the Finance Minister has requested the World Bank to cooperate with countries in identifying high priority skill sectors based on data, analysis and knowledge work, with a focus on employment generation, skill matching and labor retention. Be focused. Sitharaman, who is currently in the US capital to attend the annual meetings of the International Monetary Fund and the World Bank, also held a bilateral meeting with Britain's Chancellor of the Exchequer Rachel Reeves on Thursday.

Best wishes for the first budget

The two leaders discussed bilateral issues. Sitharaman said that India is eagerly waiting for the next economic and financial dialogue to be held in London in the first half of the coming year. He wished Rachel Reeves all the best for her first budget which is due to be tabled next week after the election.

(with agency input)