Takshashila Discussion Document - Addressing the Jobs Crisis

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Executive Summary

  1. 18 million Indians turn 18 years of age every single year and India has over a 100 million people by some estimates who are surplus in agriculture. Unless India creates 20 million jobs each year starting soon, this could spiral into a huge humanitarian crisis.
  2. To create 20 million jobs every year, India needs to have a GDP growth of at least 10% and an employment elasticity of over 0.4.
  3. We propose the following ideas and recommendations for creating 20 million jobs every year.
  1. Career impact bonds to finance upskilling
  2. Creating new cities 
  3. Facilitating emigration
  4. Increasing women’s labour force participation rate
  5. Improving access to credit 
  6.  Facilitating the gig economy
  7. Besides these, tackling structural issues like improvements to infrastructure, rationalising labour laws, and creating modern insolvency laws.