Active Stocks
Wed Apr 24 2024 15:59:54
  1. Tata Steel share price
  2. 165.50 2.73%
  1. NTPC share price
  2. 351.25 1.25%
  1. Power Grid Corporation Of India share price
  2. 290.00 1.75%
  1. Infosys share price
  2. 1,431.85 -0.68%
  1. ITC share price
  2. 428.85 -0.08%
Business News/ News / India/  Unemployment rate in India doubles among educated youth: Former CEA Kaushik Basu says, ‘Change is coming’

Unemployment rate in India doubles among educated youth: Former CEA Kaushik Basu says, ‘Change is coming’

‘I’m optimistic ordinary people can see this & change is coming,’ said former Chief Economic Advisor (CEA) Kaushik Basu.

Former Chief Economic Advisor (CEA) Kaushik Basu (Photo by RAMESH PATHANIA/MINT) (RAMESH PATHANIA/MINT)Premium
Former Chief Economic Advisor (CEA) Kaushik Basu (Photo by RAMESH PATHANIA/MINT) (RAMESH PATHANIA/MINT)

Economist Kaushik Basu has commented on the massive rise of unemployment in India over the last couple of decades. The remarks by the former Chief Economic Advisor (CEA) to the Government of India are about the India Employment Report 2024, published by the International Labour Organisation (ILO) and the Institute of Human Development (IHD).

Describing it as a “new worry for educated youth in India", Basu wrote on X (formerly Twitter), “Share of those with secondary & more education in total unemployed youth has jumped from 35.2% (2000) to 65.7% (2022). Shows what cronyism & the erosion of trust are doing."

He added, “I’m optimistic ordinary people can see this & change is coming." 

The report says the share of young people with at least a secondary education among the unemployed has nearly doubled from 35.2% in 2000 to 65.7% in 2022. Also, 83% of the total unemployed people in India are young individuals.

Also, many students leave school after secondary education, especially in less wealthy areas and among disadvantaged groups. Even though more people are going to college, there are still worries about the quality of education. The report indicates significant disparities between what students are taught and what they actually learn in schools and colleges.

On March 27, the Congress accused the Prime Minister Narendra Modi-led government at the Centre of trying to "distort, distract, and divert." The Grand Old Party insisted that unemployment among the youth remains a defining issue to address as the Lok Sabha Elections 2024 approaches.

Rahul Gandhi slams Centre

Rahul Gandhi slammed the BJP-led NDA government after CEA V Anantha Nageswaran commented that the government would not be able to solve all social and economic problems. According to Gandhi, the employment report reveals the "massive failure" of the Narendra Modi government.

"The report says there is a skill gap. We will make freshers a skilled workforce through 'Pehli Naukri Pakki'. New jobs have to be created, says report - Our 'Youth Light' guarantee is bringing 5,000 crore of support for start-ups," he said.

(With agency inputs)

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Sounak Mukhopadhyay
Sounak Mukhopadhyay, who also goes by the name Sounak Mukherjee, has been producing digital news since 2012. He's worked for the International Business Times, The Inquisitr, and Moneycontrol in the past. He's also contributed to Free Press Journal and TheRichest with feature articles. He covers news for a wide range of subjects including business, finance, economy, politics and sports. Before working with digital news publications, he worked as a freelance content writer.
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 28 Mar 2024, 09:49 AM IST
Next Story footLogo
Recommended For You