New Delhi: India’s decision to reserve 10 per cent of state jobs for citizens outside the higher income brackets will create better-paying jobs in the country’s central public sector undertakings that employ around 11 lakh employees. The recipients of this quota must be under the “economically weak” classification, which sources say was an individual with annual income less than Rs 8 lakh and owning fewer than five acres of land.
With the new reservation policy has come into effect on Monday, the initiative will mostly help the upper echelons of the country’s Hindu caste system, which has generally been a strong base of voters for the ruling Bharatiya Janata Party. PSUs have proven to be the best employers in India, with an average salary of Rs 14.45 lakh per annum.
The quota policy is also set to offer relaxations of age limit for job applicants from economically backward sections.
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.