How to creat job opportunities in India?


Analysis of Causes of Unemployment

  • India as a developing country is filled with plethora of opportunities for potential employment generation. The real reasons are rooted in an ill-designed education structure that has led to mushrooming of private tuition, teaching shops, and cheating shops. Society is keen on requiring a pass certificate to participate in the labour force and demand jobs. 80% of the graduates churned out of this system in India were found to be unemployable.

Analysis of Probable Solution

    GDP OF 10 COUNTRIES IN R&D- source Google
  • Developed nations spend about 3% of the GDP on R&D, India spends paltry 0.86 %. It comes as no surprise, therefore, that the US has been able to produce innovative companies like Apple, Microsoft, and Amazon, whose combined market capitalization equals India's GDP. Hence, India needs to spend more than 3% of its GDP.

Where to invest those 3%?

  • The Confederation of Indian Industry (CII) expects eight sectors -- retail, construction, transport and logistics, tourism and hospitality, handlooms and handicrafts, textiles and apparels, food processing, and automotive -- to generate over 10 crore jobs by 2025.
Hence, it is advised to cut the tax rate, rate of interest on loan, fully and partial exemption to these sectors.


Any queries, suggestions and feedback in the comment box are welcome.
                                                                                                                           -CA Mukesh Yadav



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