Question

concept of unemployment in Indian economy

Answer 1

Open unemployment is a situation where in a large section of the labour force does not get a job that may yield them regular income. This type ofunemployment can be seen and counted in terms of the number ofunemployed persons. The labour force expands at a faster rate than the growth rate of economy.

Answer 2

Conception of unemployment in Indian economy is as follows:

• The condition when a person does not get a job after searching it actively. Now a days, it is 7.3 % in India.
• The factors of unemployment in India are slow growth of economy and industrialization, explosion of population, reasons for underemployment and caste matter etc.
• Fiscal and monetary policy, proper training, proper use and investment in depressed geographical areas can be the way to reduce unemployment.