Unemployment in India: Hindrance to Inclusive Growth

Unemployed people face a variety of difficulties, including difficulty obtaining new work and lower-income. Unemployment has far-reaching consequences for the economy and society.

Some of the Most Common Drawbacks of Unemployment for Individuals

  • Reduced Income
  • Health Problems
  • Negative Familial Effects
  • Mental Health Challenges

Effects of Unemployment on the Society

  • Loss of Human Resources
  • Increase in Poverty
  • Social Problems
  • Political Instability
  • Exploitation of Labour
  • More Emphasis on Capital Intensive Techniques
  • Defective Education System
  • Reduced Economic Development
  • Psychological Problems
  • Increased Crime Rate

Effects of Unemployment on the Economy

  • Burden ofUnemployed on government and economy
  • Reduced spending power of the employed
  • Economic recession
  • Slow growth of economic sector

SDG 8

  • Goal 8 of the Sustained Development Goals is aimed at ‘promoting inclusive and sustainable economic growth, employment and decent work for all’.

India’s Roadmap for SDG 8

  • India has embarked on the journey to attain the SDG goal 8 through programmes like Make in India, Startup India, Skill India, Digital India, etc. which have the underlining principle of creating employment opportunities for the country’s youth.

Govt. Initiatives to create Employment

To provide employment to the public, the centre has invested in schemes like:

  • Aatmanirbhar Bharat Rojgar Yojana (ABRY),
  • Pradhan Mantri Mudra Yojana (PMMY),
  • Prime Minister’s Employment Generation Programme (PMEGP),
  • Garib Kalyan Rojgar Abhiyan (GKRA),
  • Prime Minister Street Vendor’s Atmanirbhar Nidhi (PM SVANidhi) Scheme,
  • Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS),
  • Pradhan Mantri Rojgar Protsahan Yojana (PMRPY), etc.

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