Jobless graduates are on the rise in India. Nearly 31 million Indians are jobless.
|Unemployment Rates 2015-16 (per 1000)|
|10||Jammu and Kashmir||72||36||83|
The total population in India was estimated at 1299.0 million people in 2016. Looking back, in the year of 1950, India had a population of 359.0 million people.
Worthless Degrees And Jobless Graduates
After spending almost ₹4 lakh on the B.Tech course students are sitting jobless. After finishing the course the college gives no guarantee of placements. Engineers are preparing for the bank probationary officers’ exam. In India qualified engineer is working in a non-technical field.
Colleges don’t even provide proper internship in any corporate, making the candidates absolutely incompetent.
Artificial Intelligence effect: 5 years from now, 54 million Indians will hold jobs unheard. So what will be the prospect of these graduates in future ?
150,000 engineering students graduated in 2013
97 per cent of graduating engineers want jobs either in software engineering or core engineering
Only 3 per cent have suitable skills to be employed in software.
Only 7 per cent could handle core engineering tasks.
Difficulty In Providing Employment To Educated Youth
Better educated manpower aspires for occupations of greater prestige.
Manufacturing and services sectors in India-IT/ITeS, retail, financial services, textile & apparel and auto can create the bulk of jobs.
A key finding was that 9% of India’s 600 million estimated workforce would be deployed in new jobs that do not exist today, while 37% would be in jobs that have radically changed skill sets.
Furthermore, the process of economic development tends to be more capital intensive under modern technological conditions.
Because of its capital intensive nature, the ability, of the new economy for employment generation becomes restricted.
Thus, it has less potential of employment generation. There is thus wastage of even developed human capital.
Reduced Per Capita Income
The increase in gross national product (GNP) is greatly reduced in per capita terms on account of the rapidly growing population. In the face of a rapidly growing population, the major concern of a developing country is unequal distribution of income .
So inequalities within the country tend to widen further.