Unemployment Crisis in India is a serious issue and during the 2014 Lok Sabha elections, Prime Minister Narendra Modi had promised to provide 2 crore jobs every year.
This promise had awakened hope among the youth, but even after 10 years the question remains β was this promise fulfilled?
Employment figures and facts
According to government data and reports of independent organizations, the job situation in the country has not improved as expected.
According to CMIE (Centre for Monitoring Indian Economy), the Unemployment Crisis in India rate in India is around 7-8%.
The MSME sector, which generates the most employment, was hit due to demonetisation and GST.
Crores of people have lost their jobs due to the COVID-19 pandemic, many of whom have not yet found permanent employment.
Government plans and their success
The government ran many schemes to increase employment, such as:
Mudra Yojana β Self-employment was encouraged by giving loans to small businesses.
Startup India and Make in India β were started to promote new companies.
Prime Minister’s Employment Generation Program (PMEGP) β Financial assistance was given to youth for self-employment.
However, the impact of these plans was limited. Startups and small businesses faced many problems, causing employment not to increase as much as expected.
What happened to Modi ji’s 2 crore jobs
If we talk about formal jobs, according to government data, new registrations in EPFO (Employees’ Provident Fund Organization) have increased in the last few years, but it is not necessary that these are all new jobs.
The reality is that the pace of job creation has been slow in view of the increasing youth population of the country. There is also a lack of permanent and secure jobs in the informal sector.
Conclusions
PM Modi’s promise of 2 crore jobs is still in doubt. The government made efforts to generate employment, but it did not have a widespread impact at the ground level. The problem of unemployment still remains a big challenge, and more concrete steps need to be taken to provide permanent jobs to the youth.Unemployment Crisis in India
