India is booming…India is developing…India is really shinning… You may hear all of these good sentences anywhere whether in India and anywhere in the World.
But, the Financial and business magazine Forbes has its own say on this matter. It has warned that India is developing at the risk of jobless growth. The service sector of India is toching new high but unable to provide employment for the bigger work force available in the country.
It says further that to engage the unemployed force, the energy and manufacturing industries will have to create the larger job opportunities.
There is a challenge in front of Indian economy to generate jobs opportunities otherwise India would have faced a risk of jobless growth in coming days. It will make other adverse impact on India’s economic growth too. However, India’s labour force is growing at the rate of four percent per year.
Generating job opportunities for skilled as well as unskilled labour is a tough task for government of India. If India is hoping to touch 8 percent economic growth this fiscal year, it should concentrate more to provide jobs to its unemployed force.