Budget 2014-2015: Employment and Skill Building

At present the unemployment situation in the country is alarming, with 4.7 crore youth (between 25 and 34 years of age) unemployed. Further it is notable that there are more than 350 millions of young people who are ready to enter the job market in next few years. If not managed the so called demographic dividend may turn out to be curse for the economy. And there is only way to decrease unemployment rate and increase opportunities for jobs for young people.
Skill Building
India at present can use the opportunity of the large number of Chinese labour force and their rising wages to establish itself as a low cost manufacturing hub for the world. This will help us to increase share of manufacturing sector in GDP and provide more employment opportunities to millions of youth. But for this it is important that government put basic infrastructure and policy in place for training and skill building and if India wants to achieve higher growth rate and gain for demographic profile, it cannot do without proper and efficient skill building strategies. It must be ensured by the government that the training institutes are providing contemporary vocational skills and there is flexibility in curriculum, recruitment of teachers, their salaries and placement of their students so that training institutes can adjust according to needs of the market.

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