Mint | India's employment challenge: 20 million jobs need to be created each year

A number of analysts attribute the Bharatiya Janata Party’s (BJP) underperformance in the general election to voter unhappiness with the Narendra Modi government over unemployment, job reservations and farmer livelihoods. 

The Agnipath scheme of military recruitment came in for criticism during the election campaign and many political commentators expect that the new government will be compelled to make changes to it. We should view interpretations of election results with some scepticism, but it does appear that the issue of inadequate employment opportunities has bubbled up to the surface of our political ocean.

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There’s a jobs crisis. Acknowledge it

Every year, India’s annual Budget is elevated from a mundane accounting exercise to a statement of intent and priorities of the government at the helm. The Budget speech made by the finance minister (FM) is scrutinised to check how many times a particular sector, industry or policy issue is mentioned to gauge the government’s priorities and preferences. Jobs, by the way, was mentioned three times in the Budget speech this year.

In the speech, the FM mentioned there were initiatives in the pipeline that could create six million jobs over the next five years. That is, an average of 1.2 million jobs each year. While there is a minor sense of relief that the government is finally taking cognisance of the jobs problem (instead of relying on pakora wallahs), unfortunately, the overwhelming feeling is that of inadequacy. The vague pronouncement betrays the government’s lack of appreciation of the magnitude of the jobs problem.

Career Impact Bonds? Financing upskilling to fill the world’s vacancies

he developed world is aging as life expectancy rises and birth rates fall. India has a different problem. With 18 million Indians turning 18 every year and with over 100 million Indians being surplus in the agricultural sector, 20 million Indians will need jobs each year. In contrast, India creates less than two million jobs a year. Can active promotion of emigration of Indians to the developed world be a solution to this problem? Read the full article here.