The GST Rollout This Week May Lead To Creation Of More Than 1 Lakh Job Openings
The Indian job market is eyeing a major 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%, fuelling the demand for professionals in various segments of the economy.
GST is also said to make procurement and distribution of goods much faster while cash flow is expected to become more predictable and profitability should improve.
An annualised growth to the tune of 10 -13 per cent in formal job creation on account of GST is expected.
Leading executive search firm GlobalHunt’s MD Sunil Goel said, “On an estimation, it looks like it will create more than one lakh jobs immediately from the first quarter of the implementation date and another 50,000-60,000 jobs will be created for specific activities for GST, going forward.”
GST is expected to create significant job opportunities as the businesses will need to hire professionals for dedicated GST management, upgradation and reconciliations.
With Inputs From PTI
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