India is facing an ever-increasing sad state of unemployment despite being a robust global economy. Unemployment is the major hindrance to the country’s goal of becoming an economic superpower. one day. No doubt, education level in the recent years has improved, skill development is still a crucial issue. Govt. has been making sincere efforts, but still the problem is there. What may be the unique ways to tackle the problem of unemployment in this era.
Promoting "Entrepreneurship" could help to a large extent. When individuals become employers rather than employees, they are in a position to generate jobs. Most of our graduates are unemployable and therefore Skill development has to be incorporated in the education system, right in the school curriculum itself.
Very True Tabitha, really it will definitely help in tackling this problem to some extent.Various schemes like Hunar Se Rozgar etc. are really helping the unemployed youth to earn something.
Thanks
ENTREPENEURSHIP should never be a developmental policy. It is a tool and a means to hide the problem. By claiming that "entrepreneurs" are self-employed, they are taken out of the unemployment statistics---where in fact these people are either half-employed or half-starved since most entrepeneurial enterprises fail during the first 1-2 years. Indeed there are successful entrepreneurs who succeed, grew, and create jobs for others. However, these successful ones would not be able to solve economic problem for the country (unemployment is an economic problem). it is a macro issue and should be address at a national level.
EMPLOYABLE SKILLS are not taught or not taught properly at schools. Despite the availability of technology, education falls behind industries and technology. Most schools remain part of the old institutions that is ill-equip to deal with the real world.
SOLUTION should come from state policy towards job creations. Job creation does not mean fooling people to apply for loans in the name of "subsidize loans" and then are stuck with more debts with failed businesses. Job creation should come from attracting foreign investment from outside and promote local industries to expand. How much does 1USD of tax incentive create jobs for the people and more tax revenue for the state?
An economy producing per capita GDP of about 2,000 USD is far from being robust for a country of 1.3 billion people. By any standard, it is still a "poor" economy. India has large human capital; with that, a great potential for human resource. It does not have the energy to run, but it has inertia to roll. Only when it knows how to roll will it know how to roar. Learn from China how a giant awoke from being a sleepy dragon that now breaths fire.
LINK:
https://en.wikipedia.org/wiki/India
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