Dear Members,
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