Jobs and Economic Growth - Addl Inputs
Dear Friends,
We will soon be submitting our whitepaper on Jobs and Economic growth to Minister, Finance, Minister of State, Finance and Minister of Corporate Affairs.
Below are the key Issues, Root Causes and Solutions as identified by our circle. If you have anything additional to add, please post your comment and along with it mark whether it is a Issue, Root Cause or Solutions.
I appreciate your participation on this important subject and look forward to any additional inputs.
Rajendra Pratap Gupta
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Jobs and Economic Growth – Issues, Root Causes and Solutions
Issues Identified:
1. INR is getting weaker against international currencies
2. Goods and services are becoming costlier
3. Unemployment rate is high
4. Not enough new jobs created in the market
5. New graduates do not have enough skills
6. Older factories have been closing
7. Sentiments are very low in power/infrastructure sector
8. Project approvals are very slow
9. Many ‘governmental’ hurdles in starting a new business
10. The SME sector is not given due importance
11. Pay does not rise proportionately with price rise/ inflation
12. No minimum pay law
13. Village youth exodus to the metros
14. Infrastructure lacking in villages
15. Agricultural practices have not been sustainable
Root Causes Identified:
1. Imports exceed the exports and hence the depreciation of rupee
2. No effort from Government on developing entrepreneurship ecosystem and enabling entrepreneurs
3. Lack of importance to industry relevant practical training in higher education
4. Lack of focus on Skills but a belief that a degree will get the job creates an industry-academia gap
5. Degrees on sale – one could literally pay to get a degree from many small institutions
6. Educational institutes are not properly audited before giving clearances
7. Limited research and innovation in most sectors
8. Lack of effective surface transport and infrastructure
9. Poor law and order situation
10. Starting a new business/ multinational operation is a tedious process
11. Corruption
12. Import of low quality and cheap goods allowed from China
Solutions identified:
1. The process of starting a new business should be made simpler with one window clearances
2. Promote Small Scale Industries and encourage co-operative sector
3. The opening of new private colleges should happen under strict supervision
4. Controls should be tightened on the low quality cheap import from China so that the Indian manufacturers are able to promote and sell their products
5. Manufacturing Industries should be encouraged to setup plants in less industrialized sections of the cities to get tax holidays as would generate employment
6. More focus on research and innovation
7. The government should set up a fund to back new entrepreneurs
8. College education should have a relevant practical training module to make students more job-ready
9. Higher education to focus more on skills development
10. Minimise brain drain – this would lead to great prosperity and development of our nation
11. Setting up of vocational training centres in villages
12. Reforming labour laws for easier recruitment and retrenchment
13. Syllabus of the technical courses should be updated as per the latest industry standards
14. More IITs and Industrial trainings institutes should open in tier-2 towns which would fuel better development and growth
15. Hassle free credit facilities need to be provided to the entrepreneurs
16. Focus on population control is required
17. Boosting the infrastructure like high quality roads and water facilities, especially power projects
18. Corruption should be brought under control
19. VC roadshows to motivate the young generation of entrepreneurs
20. VRS scheme should be launched in all government organizations to that more jobs could be generated for youngsters
21. More short term jobs like army (SSC) should be introduced
22. The situation of illegal immigrants should be immediately dealt with. They take up job opportunities which are meant for Indians more
We will soon be submitting our whitepaper on Jobs and Economic growth to Minister, Finance, Minister of State, Finance and Minister of Corporate Affairs.
Below are the key Issues, Root Causes and Solutions as identified by our circle. If you have anything additional to add, please post your comment and along with it mark whether it is a Issue, Root Cause or Solutions.
I appreciate your participation on this important subject and look forward to any additional inputs.
Rajendra Pratap Gupta
----------------------------------------------------------------------------------------------------------------------------------
Jobs and Economic Growth – Issues, Root Causes and Solutions
Issues Identified:
1. INR is getting weaker against international currencies
2. Goods and services are becoming costlier
3. Unemployment rate is high
4. Not enough new jobs created in the market
5. New graduates do not have enough skills
6. Older factories have been closing
7. Sentiments are very low in power/infrastructure sector
8. Project approvals are very slow
9. Many ‘governmental’ hurdles in starting a new business
10. The SME sector is not given due importance
11. Pay does not rise proportionately with price rise/ inflation
12. No minimum pay law
13. Village youth exodus to the metros
14. Infrastructure lacking in villages
15. Agricultural practices have not been sustainable
Root Causes Identified:
1. Imports exceed the exports and hence the depreciation of rupee
2. No effort from Government on developing entrepreneurship ecosystem and enabling entrepreneurs
3. Lack of importance to industry relevant practical training in higher education
4. Lack of focus on Skills but a belief that a degree will get the job creates an industry-academia gap
5. Degrees on sale – one could literally pay to get a degree from many small institutions
6. Educational institutes are not properly audited before giving clearances
7. Limited research and innovation in most sectors
8. Lack of effective surface transport and infrastructure
9. Poor law and order situation
10. Starting a new business/ multinational operation is a tedious process
11. Corruption
12. Import of low quality and cheap goods allowed from China
Solutions identified:
1. The process of starting a new business should be made simpler with one window clearances
2. Promote Small Scale Industries and encourage co-operative sector
3. The opening of new private colleges should happen under strict supervision
4. Controls should be tightened on the low quality cheap import from China so that the Indian manufacturers are able to promote and sell their products
5. Manufacturing Industries should be encouraged to setup plants in less industrialized sections of the cities to get tax holidays as would generate employment
6. More focus on research and innovation
7. The government should set up a fund to back new entrepreneurs
8. College education should have a relevant practical training module to make students more job-ready
9. Higher education to focus more on skills development
10. Minimise brain drain – this would lead to great prosperity and development of our nation
11. Setting up of vocational training centres in villages
12. Reforming labour laws for easier recruitment and retrenchment
13. Syllabus of the technical courses should be updated as per the latest industry standards
14. More IITs and Industrial trainings institutes should open in tier-2 towns which would fuel better development and growth
15. Hassle free credit facilities need to be provided to the entrepreneurs
16. Focus on population control is required
17. Boosting the infrastructure like high quality roads and water facilities, especially power projects
18. Corruption should be brought under control
19. VC roadshows to motivate the young generation of entrepreneurs
20. VRS scheme should be launched in all government organizations to that more jobs could be generated for youngsters
21. More short term jobs like army (SSC) should be introduced
22. The situation of illegal immigrants should be immediately dealt with. They take up job opportunities which are meant for Indians more
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View all 143 comments Below 143 comments
Big investments shall be attracted towards villages with good connectivity wherever possible so that students trained in skills find employment in those factories. Because I have come across many of our students who successfully finish skills training shun themselves the opportunity to go to the cities to work. They might have some genuine reasons like payment, finding housing etc., But I could gather one important factor that they simply do not want to go out of their comfort zones. This issue should be addressed. more
Dec 13
I have a small humble comment to make. Request to please focus on home grown (Indian) jobs. more
Dec 06
dear guptaji, china has made no MIRACLE. youth power has been neatly,statistically, ie they have nationalized physical work input attendance ie like how we have ration cards here.each person has to give his physical work share irrespective of his family status.the work pattern depends on ones skill, involvement, and lastly THE BRAIN CAPACITY. it is not that every one with money is an engineer, WITH MORE MONEY A DOCTOR, WITH STILL MORE MONEY A POLITICAL LEADER (WITH A ZERO BRAIN AND BACKED BY YOUNG BOYS WHO WANT TO MAKE MONEY AT THE EARLIEST,BY ADOPTING ALL ILLEGAL MEANS). until an audit of work input is enforced through laws ,i hope youth power cannot be used.it would go in to unwanted activity'S. The village should have group working system with attendance marked,and moniterd for the work output. then boys would remain in their own village earn & develop, now they have lost confidence they rush to urban places and loose their identity. more
Dec 05
