There is no denying that the country has achieved remarkable economic growth over the last years but unemployment is still one of the major problems hindering holistic development. Still employment opportunities are not available comparing the number of labour force entering the job market every year. Moreover, inconsistency between job market and education system has contributed to swelling of the number of educated unemployed. In such a situation, it is indeed good news for youths that the government has taken massive initiatives to create 85 lakh jobs by 2025.
Reports show that currently the number of youths, who are not involved in employment, education and training, is 74 lakh. It is worrying that the highest unemployment rate is among the highest educated people. Unemployment rate among those with primary education is only 2.7 per cent whereas it is 11.2 per cent among graduate and post-graduate holders. It is clear, then, that the more people are getting educated, the greater is the risk to become unemployed. The country is truly advancing in almost all sectors. Both per capita income and life expectancy have increased. And according to available data, about 13 lakh new employments have been created. In spite of all developments, unemployment rate is constantly on the rise.
Though entrepreneurship does not
constitute such a social security as employment in large
companies, still it can reduce the country’s
growing unemployment and contribute to economic growth
In such a situation it is important to encourage youths to become entrepreneurs by offering easy loans. We need to instill a culture of entrepreneurship into our students. Though entrepreneurship does not constitute such a social security as employment in large companies, still it can reduce the country’s growing unemployment and contribute to economic growth. It is therefore necessary to adopt measures that will help people become self-employed to achieve a dignified life. We expect that by creating entrepreneurs we can reduce the pressure on the country’s job markets and reinforce the country’s economic growth.
Entrepreneurship is indispensable for a country’s economic development and in order to encourage entrepreneurship, we must disseminate education on it. Though such education has already been integrated in developing countries to create awareness and motivate fresh graduates to take up business as profession, such subjects or majors have not been widely covered in the various levels of education system in our country. Hence, the departments concerned should look into this issue with due seriousness. Also, in order to encourage more youths to take business as their profession, there is a need to create a supportive atmosphere for the fresher and budding young entrepreneurs and facilitate them with appropriate tools.
