highlight any 5 ways to increase employment in India
Answers
Answer:
(1)- spreading technical education.
(2)-better medical facilities.
(3)-growth of industries.
(4)-better economic condition.
(5)-low birth rate .
Answer:
1. Improve quality of education
2. Invest in technology
Investing in technology is a massive multiplier. It will lead to the creation of many prestigious and well-paying jobs.
3. Invest in physical infrastructure
A slowdown or recession is the perfect time for a country to expand its physical infrastructure.
India needs world-class physical infrastructure for robust economic growth into the middle of this century.
The government must put people to work on massive public works projects.
4. Structural reforms by lower taxes
Our government needs to implement structural reforms to create a favourable environment for businesses maintaining a healthy competition among the players.
We must work in the direction of an innovation and technology driven economy which could boost up creation of jobs and open advanced and newer avenues of employment within the country.
5. Lower interest rates
Before 2008, discussions on interest rates were held mostly in academic circles.
Today more non-specialists understand the role played by interest rates in the economy and hence reviews on them are held by people who aren’t academics.
To create jobs, the government should consider further lowering the reverse repo rate, so banks are encouraged to lend more to consumers.
When banks earn less by parking money with the RBI, they will be incentivised to lend.
When consumers have to pay less interest for borrowing money, they will be encouraged to borrow more money.
They will subsequently purchase more goods and make investments in real estate.
More purchases and investments will lead to higher demand and lead to companies investing more and hiring more people. Eventually, this will lead to the creation of more jobs
Explanation: