BackUnemployment 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.
PremiumEconomist 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)
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