India is dealing with a serious unemployment problem, which means that many people who want to work are unable to find work. Unemployment has a wide-ranging impact on the economy and society. It reduces the people’s income and consumption, increases poverty and inequality, causes social problems such as crime and violence, and wastes the people’s human potential and skills.
In India, there are various types of unemployment. Some people are going through this phase because there aren’t enough jobs for them. This can occur as a result of slow economic growth, inadequate infrastructure, or changes in technology or trade. Some people are unemployed because they work in industries that are dependent on seasons or festivals, such as agriculture or tourism, and some people are because they are transitioning from one job to another or for personal reasons.
The informal sector, which includes small businesses and self-employed workers without formal contracts or social security, employs a large portion of India’s workforce. Many people find work and earn money in the informal sector, particularly in rural areas and in industries such as trade, construction, real estate, and services. However, there are numerous issues with the informal sector. Informal sector workers have low productivity, low wages, poor working conditions, and no legal protection. They also do not pay taxes or keep financial records.
Government initiatives
The government has launched a number of initiatives to combat unemployment and assist workers in the informal sector. Some of these schemes are as follows:
– MGNREGA (Mahatma Gandhi National Rural Employment Guarantee Act):
This scheme provides every rural household with 100 days of guaranteed work for unskilled manual labor. The scheme contributes to improved livelihood security, the creation of rural assets, environmental protection, and the empowerment of women and marginalized groups.
– PMKVY (Pradhan Mantri Kaushal Vikas Yojana):
This program provides youth with short-term training and certification in a variety of sectors and occupations. The scheme contributes to the development of a skilled workforce capable of meeting the needs of employers while also increasing employability and entrepreneurship.
– PMRPY (Pradhan Mantri Rojgar Protsahan Yojana):
This scheme provides employers with incentives to create new jobs by paying 12% of employees’ provident fund contributions for three years. The scheme promotes labor force formalization and expands social security coverage.
– PMMY (Pradhan Mantri Mudra Yojana):
This scheme provides non-corporate, non-farm small/micro enterprises with loans of up to Rs 10 lakh for income-generating activities. The program encourages entrepreneurship, self-employment, and financial inclusion.
Conclusion
Unemployment is a social and human issue as well as an economic one. It requires a comprehensive and all-inclusive solution that improves the quality and quantity of jobs while addressing the root causes of unemployment.
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