The economic downturn, catalyzed by factors such as demonetization, GST implementation issues, and the COVID-19 pandemic, has exacerbated the unemployment crisis, sparing no stratum of society.
How joblessness in India has hurt all communities over the last 8 years, with none better off in 2023-24- Over the past eight years, joblessness in India has become a pressing concern, adversely affecting communities across the nation and leaving no group better off as we step into 2023-24. The economic downturn, catalyzed by factors such as demonetization, GST implementation issues, and the COVID-19 pandemic, has exacerbated the unemployment crisis, sparing no stratum of society.
Rural areas, traditionally relying on agriculture, have faced severe distress. The agrarian sector, plagued by inconsistent monsoons and inadequate government support, has seen a spike in underemployment. Seasonal labor and casual work, which once served as a fallback, have dwindled. Consequently, rural youth are migrating en masse to urban areas in search of better opportunities, only to encounter a saturated job market.
Urban centers, which were once beacons of employment, grapple with their own challenges. Small and medium enterprises (SMEs), the backbone of urban employment, have withstood severe blows. Owing to financial instability and dwindling consumer demand, many have shut down permanently. This has led to a surge in unemployment among both skilled and unskilled labor. Moreover, fresh graduates face an increasingly competitive job market, often diving into precarious gig economy jobs that offer little stability.
Marginalized communities and minority groups are particularly vulnerable. Reports indicate that marginalized castes, women, and religious minorities face higher unemployment rates. Discrimination and lack of access to quality education have further marginalized these groups in the job market.
Government initiatives aimed at boosting employment have had limited success. Programs like ‘Make in India’ and ‘Skill India’ have yet to fulfill their promise. Critics argue that policy implementation has been inconsistent and that more systemic reforms are needed.
In essence, joblessness remains a pervasive issue in India, affecting every demographic and community. The necessity for nuanced, inclusive, and robust policy measures has never been more urgent. Sustainable development and economic recovery hinge on addressing this employment crisis, making it one of the most pressing challenges for India in the coming years.
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