Budget to create demand for senior professionals: HeadHonchos
NDTV's Dr. Prannoy Roy and Business Standard chairman TN Ninan talk to the FM about the tax rejig, compulsions of a coalition, the burgeoning fiscal deficit and much more on the government's intentions and targets in the next fiscal.
The Budget is likely to create demand for senior professionals across sectors as economic activity in the country will get an impetus on the back of increased consumer spending, job search portal HeadHonchos has said.
"We believe that the senior hiring scenario in the year ahead would be good to stable. Programmes have been initiated across the agricultural, manufacturing and infrastructure sectors to fast-track growth and will lead to a renewed vigor in organizations associated with these sectors, and they will witness hiring at senior levels," HeadHonchos CEO Uday Sodhi said.
As a direct push to the services sector is limited, hiring in the services sector will remain stable for the earlier part of FY13, he said, adding that hiring will get impetus in retail and aviation, if the government is able to chart a clear pathway for Foreign Direct Investment (FDI).
The move to allow External Commercial Borrowing (ECB) for power and housing projects will have a positive outcome on the infrastructure vertical, he stated.
Overall, he said, a consumer-friendly budget will drive demand for senior professionals across organisations in the next 2-4 years.
However, hiring in the automobile and FMCG, consumer durables sector will be slightly negative, he said.
The raised duty on large cars to 24 per cent from 22 per cent, minor changes in tax rates and increase in indirect tax might affect these three sectors, he felt.