If a solid question on jobs is raised during the heat of elections in the country, it is not like crying hoarse. High joblessness can not be averted easily as a grave concern for our country. The administrative Officers have been trying hard to tackle the burning problem. Will the goal of providing one million government jobs by the end of this year be fulfilled at all?
Our country’s economy demonstrates signs of steady growth but demands expansion at a pace of over 8% to initiate enough jobs for the job seekers, said former Reserve Bank of India governor Raghuram Rajan adding that economic growth at 6%-6.5% remains quite substantial compared with other countries, but relative to our need for jobs it appears still somewhat slow because we have a lot of young people who need to be employed.
“We should be going at 8%-8.5% given the needs of the population and the need for jobs,” Rajan said via video link at an event in Beijing recently. While India’s expansion has outpaced that of other major economies, the country is not supposedly creating adequate jobs for the millions of people joining the workforce every year. The comprehensive unemployment rate climbed to 10.05% in October, the highest in more than two years, according to a Research Centre for Monitoring Indian Economy in Mumbai.
There exists another sharp calculation that capably estimates that our great country will have to form 70 million new jobs over the successive 10 years, and with a growth of 7.5%, only two-thirds of the jobs problem will be solved.