DISBURSEMENT OF SUBSIDY FOR EMPLOYMENT, DOSE
Here is a scheme, DOSE, to encourage employment growth through contributions from those employed, supplemented by government funding through MGNREGA.
INDIAN ECONOMY FACES a severe crisis due to lags in not tapping the market potential for goods. Buying power depends on a large number of families with disposable incomes. One approach to boost the buying potential is to decrease unemployment and increase the wages earned. The author TS Gopalan suggesst a model that envisions a government administered cash subsidy scheme to motivate corporate/private employers to hire more persons.
Suggestions for Employment Growth
a) Job creation subsidy fund : All salaried employees should contribute a share of their income to a job-creation fund, both to protect their own future and to ensure greater employment.
b) DOSE : A government of India corporation should be formed to collect the contributions from salaried employees and to disburse subsidies for new employment. (DOSE}. Initial funds for DOSE Bharat will be through an en masse transfer of the annual allocation for the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGA). All salaried employees, who are income tax assesses, will be mandated to contribute 5 per cent of their taxable income to DOSE Bharat. Likewise, government pensioners should contribute 10 per cent of their pension. An amount equivalent to the contribution made by government employees should be matched by the government. Companies who have to provide for corporate social responsibility should be contributors to DOSE (the formulas to be worked out). Everyone with a stable income must contribute to DOSE that strengthens national security through job creation..by T.S GopalanDownload PDF article to Read More