Posted 3/8/2024, 2:00:00 PM
India's Growth Fails to Create Enough Quality Jobs Amid Severe Unemployment Crisis
- Despite fast economic growth, India struggles with severe unemployment due to lack of quality jobs
- India needs 10-12 million new jobs per year to employ new workforce entrants and surplus agricultural workers
- Past policies like demonetization and poorly planned lockdowns have hurt job creation, especially in construction and manufacturing
- India should pursue export-oriented service jobs but also boost labor-intensive manufacturing like China has done
- Public spending on health, education and training is vital to build human capital and attract investment for job creation