Unemployment has become a very serious issue in India because of the growing population and demand for jobs. Moreover, if we neglect this problem then it will have an adverse impact on the whole economy and will become the reason for the doom of the nation. Whenever there is high degree of employment rate the production improves thereby increasing the standard of living.
High unemployment rate in a country leads to social and economic problems in the community as a whole. Economic problems result in less production of goods and services, less distribution of income, fall in GDP rate etc. Individuals cannot meet their financial obligations on time and getting high stress which leads to problems like ill-health, premature death, suicides etc. High unemployment causes less consumption of goods and services and less tax payments results in higher government borrowing requirements. A large portion of the population is engaged in the agricultural sector and the sector only provides employment in harvest or plantation time. Apart from this, increase in poverty, an increase in crime rate, exploitation of labor, political instability, mental health, and loss of skills adversely impact our economy. The other factors include population growth, slow economic growth, seasonal occupation, slow growth of the economic sector, and fall in the cottage industry. In addition, the biggest reason of unemployment in India is its vast population which demands a large number of jobs every year which the government and authorities are unable to provide. As a result, all this will eventually lead to the demise of the nation. The various types of unemployment include disguised unemployment, seasonal unemployment, open unemployment, technological unemployment, structural unemployment, cyclic unemployment, educated unemployment, underemployment, frictional unemployment, chronic unemployment, and casual unemployment.
Causes for unemployment include advancement in technology ( as the technology keeps advancing , companies look for employees having the latest technical skills) , recession ( financial crisis in one country can affect the other countries economy due to globalization) , changes in the global markets ( the economy of a country is adversely affected when its exports are down the line due to changes in global markets, and increase in price which leads to massive loss in terms of production and companies are unable to pay on time hence increasing the rate of unemployment) , job dissatisfaction by many employees ( when employers pay less attention to the performance of employee, it leads to lack of interest and desire to work and unemployment becomes inevitable, as employees deliberately loose their jobs)
Unemployment has now become such a dangerous economic. Social and political problem that it has endangered the security of the country. The law and order situation in the country has also been affected. Hence, the government has to take measures to curb the problem.The government has taken necessary steps to solve this significant issue. Several policies have been made to reduce the unemployment problem in the economy. The Government is planning to expand capital projects like new roads, constructions of new hospitals and major infrastructural projects which can become a platform in creation for more jobs and increases income generation to the economy. Also several initiatives have been launched such as IRDP (Integrated Rural Development Programme), NRY (Nehru Rozgar Yojana), Drought Prone area program, PMGSY (Pradhan Mantri Gram Sadak Yojana), Employment Guarantee Scheme etc. Moreover, the government is spending on irrigation, farms, and roads, etc. Steps to reduce unemployment include population control, more small- medium enterprises, good education system and improvement in agriculture. Necessary steps are to be taken by the government in increasing the productivity for the overall development of the country and reducing the unemployment problem in the economy .