Archive for the ‘opportunities’ Category

The economy is struggling to grow due to unemployment, which must be regarded as the national concern. While there are many socioeconomic issues, unemployment must be our top priority.  The government should focus on generating new employment opportunities, which would help to reduce poverty and inequality and improve the living standard of the masses, both in the rural and urban India. The environment has led to a great deal of discussion about government policies to create jobs. Unemployment can be a miserable experience and during recessions more people suffer it. Jobs provide people with income to fulfill their daily necessities.
 Job creation has slowed down as a result of governments providing greater support to capital intensive industries rather than labor intensive industries. Lower interest rates have borne down on manufacturing equipment and this has increased unemployment. The government can stimulate job creation when it invests in projects that improve or create new services. A change in monetary policies, tax incentives and changes in regulations affects the labour market in the long run. Jobs can be created simply by innovations and executing the novel ideas in the manufacturing and service sector.

The most difficult, but the most effective way of employment generation is to create new industries. It is possible to emulate other developing countries like China and S. Korea. As India is a liberalized economy and we support free market environment where investment options are more transparent and accessible to everyone.  Nothing should be more important than creating jobs to curtail poverty and accelerate economic growth. Unemployment does hamper the country’s economic growth, whereas job creation requires a stable macroeconomic framework coupled with structural policies that encourage innovation, skills and business development.

Creating jobs is crucial for development. Most developing countries struggle with high unemployment or underemployment. Creating new jobs, improving incomes and working conditions are hugely important. Innovations and technologies contribute to economic growth and employment, but also for overcoming other key problems of development. There are around 200 million unemployed people around the world, while a further 900 million earn too little to live from their income. Secure jobs with social benefits and fair pay offer a way out of poverty, which explains why employment is a key pillar of development.