Friday, Jul 19, 2024 09:30 [IST]

Last Update: Friday, Jul 19, 2024 03:54 [IST]

Finding Jobs

India recently celebrated an impressive milestone: 8.4 percent GDP growth in the financial year ending March, making it the fastest-growing major economy. However, this headline figure hides deeper, troubling realities. Despite robust growth, India's unemployment rate surged from 7.4 percent in March to 8.1 percent in April, with youth unemployment around ten times higher than the adult rate. This discrepancy highlights a critical issue: economic growth is not translating into job creation, particularly for the younger generation.

The workforce’s increasing shift toward agriculture is alarming. During Prime Minister Modi’s second term, the proportion of the population employed in agriculture grew from 42.5 percent in 2018-19 to 45.8 percent in 2022-23, according to Oxford Economics. Agriculture, while vital, remains a relatively unproductive sector, and this shift signals a worrying trend of workers moving away from potentially more lucrative and stable non-agricultural jobs.

The COVID-19 pandemic exacerbated existing issues, stalling the already sluggish transition from agricultural to non-agricultural employment. The Annual Survey of Unincorporated Sector Enterprises (ASUSE) highlights that only 21 percent of total establishments used the Internet for entrepreneurial activities, underscoring a significant digital divide and a lag in modernization. Moreover, the informal economy, which employs over 90 percent of India’s workforce, presents a persistent challenge, leading to job insecurity and poor working conditions. This scenario requires urgent attention and a comprehensive strategy to formalize employment and improve workers’ conditions.

Agriculture remains the backbone of India’s workforce, with 47 percent of the population dependent on it for their livelihood. Despite this, rural workers continue to face inadequate income and limited opportunities for growth. The Economic Survey of 2022-23 indicated that 65 percent of the population lives in rural areas, where economic opportunities are scant.

Addressing these challenges requires a holistic approach. The central government must prioritize employment generation in its upcoming Union Budget, focusing on both the quantity and quality of jobs. More public and cooperative investment in agriculture could create jobs and improve productivity, easing the burden on farmers and generating stable employment opportunities. Bridging the digital divide and encouraging digital entrepreneurship can spur economic activity and create new job opportunities. Policies aimed at formalizing the informal sector would provide workers with better job security and social benefits, improving their overall quality of life. Engaging the private sector, labour unions, states, and political parties in designing a growth model centered around job creation is essential.

 

Sikkim at a Glance

  • Area: 7096 Sq Kms
  • Capital: Gangtok
  • Altitude: 5,840 ft
  • Population: 6.10 Lakhs
  • Topography: Hilly terrain elevation from 600 to over 28,509 ft above sea level
  • Climate:
  • Summer: Min- 13°C - Max 21°C
  • Winter: Min- 0.48°C - Max 13°C
  • Rainfall: 325 cms per annum
  • Language Spoken: Nepali, Bhutia, Lepcha, Tibetan, English, Hindi