Bridging the Education-Employment Gap: Empowering India’s Youth
India, with its young demographic, holds a strategic advantage in meeting the evolving demands of the global workforce. However, bridging the skill gap between education and labor markets remains crucial. The Economic Survey for 2023-24 highlights this challenge and underscores the importance of skill development in shaping India’s future workforce.
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The Demographic Dividend
India boasts one of the youngest populations globally, with a median age of 28. This demographic advantage presents a unique opportunity to harness the potential of its youth by equipping them with employable skills. The Economic Survey emphasizes that nurturing a skilled workforce is essential for India to thrive in the knowledge economy.
Global Megatrends and Skill Demands
The nature of work and skills demands are changing due to global megatrends such as automation, climate change action, and digitalization. These trends necessitate a workforce adept in new skills. The Survey points out that skill development is central to adapting to these changes in education and labor markets.
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Government Initiatives: NEP and NPSDE
Two flagship government schemes, the National Education Policy (NEP) and the National Policy on Skill Development & Entrepreneurship (NPSDE), are pivotal in achieving educational outcomes and preparing the youth for future challenges.
National Education Policy (NEP)
Launched in 2020, the NEP aims to transform India into an equitable and vibrant knowledge society by providing high-quality education to all. It envisions an education system rooted in Indian ethos, contributing to making India a global knowledge superpower.
National Policy on Skill Development & Entrepreneurship (NPSDE)
The NPSDE focuses on improving industry engagement, leveraging technology, and expanding apprenticeship opportunities. It targets marginalized groups, especially women, to empower them through skill development and entrepreneurship.
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Funding and Implementation Challenges
Experts have highlighted the need for substantial investments to successfully implement NEP. Narayanan Ramaswamy of KPMG emphasized the importance of augmenting infrastructure, training faculty, and managing financial resources to achieve NEP’s goals.
Women’s Participation in Skill Development
The Economic Survey reports increased participation of women in skill development programs over the past eight years. For instance, under the Pradhan Mantri Kaushal Vikas Yojana (PMKVY), the proportion of women trained rose to 52.3% in FY24 from 42.7% in FY16.
Similarly, the Jan Shikshan Sansthan (JSS) Scheme saw about 82% of its beneficiaries being women. Long-term training institutions such as ITIs and NSTIs also witnessed an increase in women’s participation, from 9.8% in FY16 to 13.3% in FY24.
Conclusion
Bridging the education-employment gap is crucial for India to capitalize on its demographic dividend. The Economic Survey 2023-24 underscores the need for skill development to adapt to global megatrends and prepare the youth for the future. With focused government initiatives and increased participation of marginalized groups, India is poised to empower its youth and drive economic growth.
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