Debunking the Myth of Job Creation in India
• Employer-centric approach overlooks mismatch between employability and actual employment opportunities.
• Potential to strengthen employer bargaining power, leading to wage gaps.
• Only 8.25% of graduates are employed in roles matching their qualifications.
• Over 53% of graduates and 36% of postgraduates are underemployed in semi-skilled or elementary occupations.
• Only 4.2% of graduates in specialized roles earn between ₹4 lakh-8 lakh per annum.
• Scheme marginalizes 90% of the informal sector’s labour force, risking establishing structural inequalities.
• Potential normalization of disguised unemployment.
• Special focus on manufacturing reveals sectoral blind spot due to declining employment elasticity.
• Alternatives include investment in skilling and education reforms, and shifting initiatives from short-term to long-term sustained employment opportunities.
India job creation myth is important topic for Civil service exam (WBCS).
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