“Time is running out. Jobs should be created urgently.” According to various data sources, in 2009 (under the Manmohan Singh government) the country created 10 lakh jobs. Up until 2011, around 9 lakh new jobs were created each year on an average. However, this number fell sharply in 2012 and it continued to fall further till it reached a point of only 1.35 lakh new jobs in 2015 (data after analysing eight employment-intensive industries). This was in sharp contrast to Prime Minister Narendra Modi’s promise of creating one crore jobs every year. According to Labour Bureau data, job creation could be at the lowest level in the past eight years. The eight employment-intensive industries were able to create 1.35 lakh jobs in 2015 compared to 4.21 lakh jobs in 2014, as per the employment survey.
Male Female Jobs Ratio
Compared to GDP growth, India’s job creation has been marginal and it will continue to fall if immediate redressal is not done. “Many parts of the system must be changed together for the system to create more jobs, enterprises and livelihood,” ‘Future of Jobs in India’. “We have learnt but looks like the system has not learnt,”
India needs a modern version of an industrial policy. We need an industrial policy as an idea to operate through the system. So that we think in a way, take decisions and address issues. authorities need to look at a particular industry and see if they can do something for them to evolve and help them succeed.
Jobs opportunity in India
(First) You need regulatory burden to go down. So, that start-ups in the convention economy where the word ‘factory’ and ‘worker’ operates have the same ease of doing business as the IT and the finance professional have. Second the social security net.”
Social Security is yet an area that India needs to address. Around 93 per cent of India’s workforce lack social protection. According to reports, India has a total workforce of 500 million and about 25 million have access to old age protection through Employees Provident Fund Organisation (EPFO). India’s social security does not come in par with African countries, That is where India stands in social security.
One of ways to move forward would be to focus on skilling (and multi-skilling options) the Indian population even while it is initiated into primary education. Most importantly, skill the youth in such a way that they not just create employment opportunities for themselves but others as well. If government cannot create jobs than people should create them for themselves and others. It means that they should have an eco-system for it.