Nearly Half Of Indian Youth Not yet Readily Employable Straight Out Of College: Economic Survey 2024

Union Finance Minister Nirmala Sitharaman on Monday (22 July) tabled the Economic Survey 2024-25 in the Parliament.

The Economic Survey said that about half the students fresh out of the Indian colleges are not readily employable.

Sixty-five per cent of India's fast-growing population is under 35, and many lack the skills needed by a modern economy," the survey said citing a 2023 World Bank report.

"Estimates show that about 51.25 per cent of the youth is deemed employable. In other words, about one in two are not yet readily employable, straight out of college. However, it must be noted that the percentage has improved from around 34 per cent to 51.3 per cent in the last decade,' it added.

Stressing on generating productive employment, the Survey document asserted productive jobs are vital for growth and inclusion.

India's workforce is estimated to be nearly 56.5 Crore, of which more than 45 per cent are employed in agriculture, 11.4 per cent in manufacturing, 28.9 per cent in services, and 13.0 per cent in construction sector.

However, to create these many jobs, there is a need to create the conditions for faster growth of productive jobs outside of agriculture, especially in organised manufacturing and services, even while improving productivity in agriculture, ANI reported.