Unemployment
-: Unemployment :-
India as a nation is faced with a massive problem of unemployment. Unemployment can be defined as the state of being without any work both for an educated and uneducated person, for earning one’s livelihood. Unemployment may be elaborated as a state of not finding work by an individual who is fit and willing to work. It is usually measured in percentage; the number of individuals without work out of the total “labour force” of the country or specific social groups.
The root of the problem can be traced to a host of reasons that contribute collectively towards this problem.
1. Economic Growth without adequate Employment Opportunities: India’s GDP projections for the year
2017-18 is 7.5 percent but that growth does not currently translate into creating more employment opportunities for the labour force of the country. In a survey conducted among a sample of 1,072 companies across the nation and across various sectors, during the financial year 2014-15, only 12,760 jobs were created compared to 1,88,371 jobs in the year 2013-2014. In the year 2016, India’s rural unemployment rate stood at 7.15 percent whereas unemployment rate in urban areas stood at 9.62 percent.
1. Economic Growth without adequate Employment Opportunities: India’s GDP projections for the year
2017-18 is 7.5 percent but that growth does not currently translate into creating more employment opportunities for the labour force of the country. In a survey conducted among a sample of 1,072 companies across the nation and across various sectors, during the financial year 2014-15, only 12,760 jobs were created compared to 1,88,371 jobs in the year 2013-2014. In the year 2016, India’s rural unemployment rate stood at 7.15 percent whereas unemployment rate in urban areas stood at 9.62 percent.
2. Education: Although literacy rates have risen in the last few decades, there still remains a fundamental flaw in the education system in India. The curriculum is mostly theory-oriented and fails to provide vocational training required to match with the current economic environment. The degree-oriented system renders itself redundant when it comes to producing human resources adept at fitting into specific profiles within the economy.
3. Population Growth: Rapid growth of population has often been labelled as the major reason for increasing unemployment in the country. In the last ten years (2006-2016), India’s population has increased by 136.28 million
and unemployment was at a five-year high in the financial year of 2015-16. Current survey data reveals that at the all-India level, 77 percent of families do not have a regular salaried person.
2. Education: Although literacy rates have risen in the last few decades, there still remains a fundamental flaw in the education system in India. The curriculum is mostly theory-oriented and fails to provide vocational training required to match with the current economic environment. The degree-oriented system renders itself redundant when it comes to producing human resources adept at fitting into specific profiles within the economy.
3. Population Growth: Rapid growth of population has often been labelled as the major reason for increasing unemployment in the country. In the last ten years (2006-2016), India’s population has increased by 136.28 million
and unemployment was at a five-year high in the financial year of 2015-16. Current survey data reveals that at the all-India level, 77 percent of families do not have a regular salaried person.
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