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October 2024

From The President

By CA Anand Bathiya, President
Reading Time 6 mins

Dear Members,

  •  More than 17.76 lakh applications were received for 17,471 police constable posts.1
  •  India needs to create an additional 60 to 148 million jobs by 2030.2
  •  India, on average, grew 6.6 per cent a year in the decade starting in 2010, but the employment growth rate was below 2 per cent, which was below its G20 peers.3

The single largest challenge that stands between present-day India and a developed nation is our capacity to create sufficient employment opportunities and, thereby, leverage our demographic dividend. The Indian economy must generate approximately 7.85 million jobs ‘annually’ in the non-agricultural sector until 2030 to accommodate the increasing workforce; currently, we fall short of this target. Empirical evidence suggests that jobless growth can lead to unintended consequences of income inequality, economic stagnation, lower productivity, strain on public finances, unrest, etc.

While the broader issue of ‘oversupply’ is a significant chal

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