Wednesday, July 18, 2007
At a recent press meet, the Economic Adviser, to Prime Minister, Mr. Rangarajan said “A study that I have done shows that by 2010, the labour force and the work force will almost be equal in the sense that there will be no unemployment even assuming a growth rate of 8 per cent. In fact the economy will grow at a higher rate than this. Therefore the question that remains is not so much of quantity employment as the quality and this will depend on improving the total factory productivity both in agriculture and unorganised sector”.
Isn’t this interesting?? While most economists are trying to predict the year in which India will outshine America and eventually China to become a world leader, here comes a prediction that’s quite meaningful and brings in a ray of hope to all the budding Indians who are worried about the increasing competition to enter the corporate world since they are busy cooking sweet and sour.
I truly pray that the unemployment issue gets sorted out at the earliest; because it will indeed help solving many other problems in the country like poverty, child labour, exploitation, and will also help in bridging the big gap between the rich and the poor. It will also reduce the crime rate, and help in the social and economic development of all parts of the country. Remember, every fourth poor person is an Indian. So once employment is generated to all and then their wages start growing, we can minimize the number of people below poverty line and bring in prosperity to all.
Even then we need to be cautious and make sure that this supply-demand ratio for man-power is well maintained. Population should be kept under check and the growth of industry, services and agriculture should constantly open more doors for employment.
But hang on! Doesn't all this ring a bell?? I can still hear echoes of "India Shining” campaign by the NDA government. So I am keeping my fingers crossed and hope this too doesn’t turn out to be mere election propaganda for the parliamentary elections. Hope the prediction does come true and all of Indian truly Shines!!