Within two decades, the population of working people in the world is going to increase significantly and share 20 percent of it. India What will happen? The World Bank estimates that in two decades the population of 15 to 59 year olds in India will Population It can increase by about 13.5 crores. Whereas during the same period, there can be almost the same decrease in China. IIT Delhi According to a study, India can benefit greatly from this. Researcher Jayan Jose Thomas has done this study.
He says that if India has to take advantage of its growing youth workforce, it needs to strategically implement economic and industrial policies. It is also very important to create jobs in India for the rapidly growing number of youth ready to join the country’s workforce in the next two decades.
Job creation challenge on the strength of growing youth population
Within a period of two decades from the year 2020, 20 percent of the increase in the working population worldwide will be from India. World Bank projections show that India’s population aged 15 to 59 is expected to increase by 134.6 million between 2020 and 2040, while China is expected to decline by almost the same number during the same period. Can A large number of skilled labor force is a great boon for India’s economic development, but creating new and decent job opportunities for the growing number of youth is also a challenge for the policy makers.
Potential for significant changes in the agriculture sector
India’s economy and labor force is undergoing a structural transformation, fueling the urgency of creating new jobs. As recently as 2017-18, agriculture-related jobs were the source of livelihood for 41.8 per cent of India’s workforce, or 457.6 million people. This was the number of workers.
There has been a significant change in the agriculture sector since the mid-2000s and this process is likely to accelerate in the coming years. The result will be that lakhs of laborers will leave their homes in the countryside and look for non-agricultural jobs in towns and cities.
One fourth of the country’s population is students
In 2018, the number of students in India was 350.4 million, a quarter of the country’s total population (1316.3 million) and more than 75 percent of its current workforce. This huge number of students will enter the labor market in the coming years and their job aspirations will be much higher than that of their parents. India’s employment challenge has a distinct regional dimension.
Large youth population in UP-Bihar
India is a union of 28 states and eight union territories. Uttar Pradesh and Bihar are the two most populous states. There is a very young population among them. Between 2021 and 2036, these two states will account for 41.9 percent of the total increase in the working age population in India. Not only this, it is also included in the two poorest Indian states.
Some of the southern and western states, especially Kerala and Tamil Nadu, have significantly different demographic structures. These two states are far ahead of the rest of the country in decline in fertility and other achievements, but now these states are also facing challenges due to rapidly growing population.
Investment in these states will be helpful
Increasing government spending on health, education and other social sectors will be critical to realizing the wider dividends from India’s young demographics. This is even more important after the Kovid-19 pandemic. In 2018, India’s health expenditure as a proportion of GDP was only 0.95 per cent, compared to three per cent in China and 8.5 per cent in the US. In particular, the investment will prove helpful for states like Bihar, Uttar Pradesh, Rajasthan, Madhya Pradesh and Chhattisgarh, because here the youth population is increasing, but these states are behind in terms of human development.
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