Addressing Unemployment through Reforms in Education – Vinay Rai

Addressing Unemployment through Reforms in Education – Vinay Rai

Addressing the issue of unemployment would not be an easy task for the new government. The country not only faces the challenge of absorbing new entrants to the job market, but also clearing the backlog.

There are around 29 million people entering the job market every year. If we wish to prepare a workforce to compete with the best in the world, the largest absorber of the human resource capital needs to be the organized sector.

Currently, a large chunk of the population is employed in the unorganized sector. Either we give the unorganized sector a better platform to be projected on the international scenario or create jobs in the organized sector. Now even if we create jobs in the organized sector, we would need educated workforce catering to the specific requirements of the industry. Only one percent of 29 million populations is actually able to absorb the benefits of mainstream of the education system. We have neither the required infrastructure to provide quality education to 29 million people, nor does our syllabus cater to the specialized needs of the industry.

To address the issue of unemployment, a paradigm shift is necessary in the education system. Stress needs to be laid upon the employability of the individual. We have education fulfilling the basic qualification requirements. While the industry needs more than mere MBAs, the education sector is overflowed with MBAs. With the corporate sector more conscious about the issue of overstaffing, it becomes essential that the education system adapt itself to the diversified needs of the industry. Specialization is the key. Job seekers should become job providers.

Vinay Rai said that, "the onus of encouraging the entrepreneurial talent doesn't entirely lie on the government. The educational institutes again have to play a vital role." The universities and educational institutes can provide the particular subject-expert guidance to the students, he adds, and the government on the other hand can provide them with the financial help.

Lastly, nurturing the FDI is essential for curbing the problem of unemployment. Firstly, it would directly create more job opportunities. Also, with more FDI entering the Indian market, those who are currently in the organized sector would move to the blue-chip MNCs. Those in the unorganized sector would move to the organized sector. And the unorganized sector would be free to absorb more people again, Employment generation would be a slow process and expecting spectacular results within a span of five years would not be fair enough. However, the government needs to keep a close watch on the numbers. Generating employment would not be enough. Generating permanent employment opportunities would be the real solutions to the problem. With around 54% of the population below the age of 25 years, the youth would carry the nation to the next step. The system should thus arm the youth with what it wants - education, employment, and good life. The rest would automatically follow. - Vinay Rai

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