Congratulations and wishes to all Indians on the occasion of the 70th National constitution day. Our constitution preaches the relevance of the values enshrined in the constitution, Justice, Liberty, Equality & Fraternity and the need to adhere to it and uphold it remain as strong as ever.
On this occasion, here are a few stats where we stand on the 70th constitution day.
Leading economies like Europe, the US, South Korea, Japan are aging but India being a developing country holds the advantage of having an increased working and young population. With 28.5 years of an average age of India’s population, India will be the youngest country in the world by 2020. This demographic potential offers India an unprecedented edge which could further contribute to the GDP growth rate and contribute India to mark themselves in the world map as an economically developed country.
A list of factors impacting the GDP growth rate
India’s population is 1.25 billion, still lacking the skill set for the current day need. The education system churns out people with paper certificates. It cannot be readily employable for a lack of skill sets. Alongside education, people should look for alternative skills set based on their interests. The government is taking upliftment initiatives for upbringing the people by initiating skill development programs in government-sponsored and private sponsored skill development centers across rural and urban India. Still, unemployment is exponentially increasing and it is playing a key role in the fall of the GDP growth rate.
Statistics and Suggestions
Nowadays, the internet, digital and social media is playing a master role in most of the citizen’s daily life. According to Statista’s report, about 65% of the Indians are using mobile phones in 2019. This means there are around 813 million mobile phone users in India, meaning for every 10 individuals 6 people are using mobile phones. Out of 813 million, mobile phone users around 40% of mobile users are smartphone users which means around 325 million are using smartphones. There is huge content available on the internet to develop the skill still, people are lacking in skill development.
Creating a Self-Employment
Billionaires like Elon Musk – Founder, CEO of Space X, Jeff Bezos – CEO, President of Amazon, Bill Gates – Co-founder and former head of Microsoft suggests internet users read a book or an article weekly for an hour. If each smartphone user can spend one hour a week on the self-development, there would be 325 million hours of productivity in a week, which would result in the advancement of 4.2 years.
According to a source, in India, a large number of people start working and earning after 25 years of age, there is no complete focus and route map on what to do post the education. Finally resulting in unemployment and they sought government incentives. Only a few people contribute to GDP which results in a fall in the growth rate of GDP.
Gender discrimination, still most qualified women are not encouraged to work and contribute to GDP. Less than a quarter which is 23.6% of women aged 18 and above participated in the labor force in 2018. India’s low labor force participation rate for women is due in part to an increase in women continuing their education, the availability of flexible scheduling and the proximity of work locations.
Rural women are leaving India’s workforce at a faster rate than urban women. Young women are moving into non-traditional professional jobs, for example in communications. However, in 2018 only 26% of surveyed companies had hired women in the top-five job roles in the past five years.
Agriculture is stagnant, still, 60% of the Indian economy depends on Agriculture and rural economy. The contribution of agriculture to the GVA has decreased from 15% in 2015-16 to 14.4% in 2018-19. The decline was mainly due to decrease stagnation of agriculture development.
Learn more, determine, and draft the direction to your desire, finally craft your career. Ultimately contribute to the GDP and make India proud.