Vol. 12, Special Issue 8 (2023)

Author(s):
Dr. HC Kalita and Dr. Sayanika Borah

Abstract:
Creating jobs for young people is a major challenge around the world, which has been further exacerbated by the global financial crisis that hit this group hard. Our country is facing many problems but one of the serious problems is of unemployment. Thousands of young people remain idle even after completing their studies. The National Youth Policy of India defines a “youth” as a person in the age group 15 to 35 years of age. The UN (United Nation), on the other hand, defines a youth as somebody between 15 to 24 years of age. The unemployed rural youth faces various problems viz; increase rate of crimes, suicide, poverty, lower economic growth, to get rid from the unemployment stress youth pretend to accept alcohol or drugs, find the wrong way to earn money, health issues, etc. To overcome the problems of unemployed youth Government of India has provided tremendous schemes to decrease the rate of unemployed youth. According to Labour Bureau of Government of India census reported that youth unemployment rate is decreased to 12.90 percent in 2013 from 18.10 percent in 2012. Youth Unemployment Rate in India averaged 23.74 percent from 2018 until 2021, reaching an all time high of 34.70 percent in the second quarter of 2020. (Source: Ministry of Statistics and Programme Implementation, MOSPI). Youth employment is a high-priority agenda item for our government. This can happen only if we equip our young people with skills that are required to meet the demands of our rapidly growing economy. This paper aim to provide detail concept on entrepreneurships development and explains how it is need of the hour to solve unemployment problem of India.