So, 2020 is going to be a very significant year for India. Indian economy is expected to become the third largest in the world. India will be after China and USA that time. So, it is a great news for India and this good news has come from Indian Finance Minister P Chidambaram. So, Indian people have to wait just 13 years and few months to experience this magical feat.
Well, this good news is accompanied by bad news too. By 2020, India may have 211 Million unemployed people. I guess that this figure will make India a country with the largest number of unemployed people in 2020. This prediction has come from TeamLease Services. It ha published a report 'India Labour Report 2006' and there you can see this prediction.
The main problems of Indian economy are:
Millions of people in India are still illiterate.
Most people depend on agriculture for a living.
India has so far failed to emulate the success of China in the manufacturing sector.
According to 'India Labour Report 2006':
"India's working population in 2020 will be equal to India's total population when reforms started in 1991
Projecting current variables forward means 211 million unemployed in 2020; an unemployment rate of 30%
Unemployment will largely be a youth problem; nine out of ten unemployed are likely to be in the 15-29 age bracket"
So, I feel that Indian government should try to tackle the unemployment problem first and then celebrate economic success. Having 211 million of unemployed people is not a good thing for any country. So, Indian economy is growing very fast, so too the number unemployed people.
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hi sir can u send me full report about indian economy of 2020
Posted by: sagar | September 24, 2007 1:51 AM | Permalink to Comment