Only 51% Graduates In India Are Employable

The Economic Survey 2024 highlights a significant skills gap in India with 51.25% of graduates deemed employable though this is an improvement from 34% a decade ago. 

Despite a growing young population many lack necessary skills for modern jobs.

The unemployment rate has decreased to 3.2% in 2022-23 and youth and female workforce participation has risen.

Formal employment has grown with EPFO payroll additions more than doubling in five years.

However challenges remain including regulatory barriers, outdated vocational training and limited coordination among government skill programs. 

There’s a need for better integration of skill development with higher education, increased female labor participation and support for innovation driven entrepreneurship.

The Government's measures to boost employment such as agro processing and the care economy are promising. 

Yet, public perception of skill training as a last resort, lack of quality trainers and inadequate support for startups hinder progress.

Addressing these issues is crucial for sustaining quality employment and economic growth.