Mudit Foujdar238 wordsTheir whole copy
Opening · a figure
With a median age of 29 and around 62% of the population of working-age (15-59), India is in the middle of a demographic dividend, which is set to peak around 2041.
Leveraging the demographic dividend involves : With only 2.3% of the workforce undergoing skilled training (UNDP India Skill Report) & a dismal ranking of 106 on the Human Capital Index, India's demographic dividend may turn into a demographic disaster.
Body · points and prose
the Human Capital Index, India's demographic dividend may turn into a demographic disaster.
Challenges of Unemployment & Unemployability
Reasons
- Lack of Industry - Academia linkage.
- Outdated curriculum in the wake of Industrial Revolution 4.0.
- Poverty → leads to poor health, nutrition, education.
- Jobless Growth in India (Service sector 55% of GDP but employs only 30%)
- Lack of a well-developed Manufacturing & MSME Sector (Labour-Intensive)
- Poor quality education → lack of a focus on vocational education.
- Voluntary unemployment.
- Problem of Underemployment (NITI Aayog)
Close · a way forward
If these challenges are not addressed, joblessness may lead to increased social tensions (Agniveer protests), crime & delinquency and disenchantment towards the government / public functionaries. It may also lead to unhealthy rates of migrations, economic downturn (& rising rates of poverty) as well as rise in economic inequalities.
Hence, tackling these issues is paramount to leveraging our demographic dividend. PMKVY 4.0 (Budget 2023), emphasis on the tourism, manufacturing, textile, MSME & agriculture sector are steps in the right direction to achieve SDG 8 targets (Full & Productive Employment).
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