Unemployment India Essay: Creating new jobs is a crucial talk and plays an important role in the economy. The economic crises has become a social crises for most countries leading a high unemployment rate. Unemployment in India is a state when people have the potential and ability to work and earn but finds no remunerative work. It can also be stated as ‘Condition of involuntary idleness.’
Unemployment India Essay – Unemployment Rate in India 2017
The recent trillion dollar meltdown of US, the Eurozone crises have changed the economic landscape of the world. Many developed countries that were doing well, suddenly are grappling with pilling debt, a banking crises and slowdown. So, unemployment which is bothering India, is in fact a global issue effecting lots of counties together.
Unemployment records in India are kept by the Ministry of Labour and Employment of India. From 1983 till 2010, unemployment rate in India averaged 7.6% reaching all time high in December 2016 and a record low of 3.8% in December 2017. A large pool of youth in the age group 18-25 years, despite being skilled are facing unemployment since there not enough opportunities for them. Interestingly the gap between rural and urban employment rate is also not very wide. But since India has the largest population of youth in the world, the impact of declining financial market is worst in India.
Unemployment in India – Types and Causes of Unemployment in India
Unemployment may be classified as rural, urban, seasonal, cyclical or technological. Seasonal unemployment is found mostly in agricultural sector and manufacturing unites like sugar or ice factories. Cyclical unemployment is caused due to ups and downs in trade. When the entrepreneurs compensate their loss by cutting down on their number of workers, it is termed as cyclical unemployment.
As the term itself suggests, technological unemployment occurs when introduction of technology displaces manpower. Factors like lack of capital, lack of investment, low production, decline in business cycle, dislocation of industries, deflation, use of technology etc., are the basic causes of unemployment. Besides these economic causes, unemployment can be caused due to various social factors too, like geographical immobility, rapid growth of population, defective system of education, lack of experience, lack of vocational training, illness or disability.
Unemployment, thus causes disillusionment, frustration and deprivation. These crises have taken its toll so much that various movies on this subject have also been produced. Movies like ‘Wolf of Wall Street’, “Badmash Company’ and ‘Desi Boys’ are examples of such movies depiction how market slowdown has taken people to wrong places, even to committing crimes. Current PM Narendra Modi too has emphasized on skill development of youth so that they would be able to fulfill the mission of nation building.
Unemployment India Essay – Eradication of Unemployment in India
The society has to change its outlook on white collar and blue collar jobs, along with a change in education system and needs to create more opportunities of self-employment. Stress on vocational training is needed urgently. Then only we can overcome the growing problem of unemployment in our country. The Government of India has taken several steps to decrease the unemployment rate like launching Mahatma Gandhi National Rural Employment Guarantee Scheme which guarantees a 100 day employment person in a year.
Self-employment training was also given to young men along with which financial assistance from the bank was also extended. Government also helps people to get employment abroad. With the recent development, wherein Prime Minister Modi is calling foreign investors to set up industries in India, soon the problem of unemployment would be seen as thing of past.