Boosting Jobs and Economic Growth - Issues, Root Causes, Solutions

Dear Friends,

Thank you for giving your inputs on the subject priority. Here is a summary of Issues, Root Causes and Solutions Identified.

The subject whitepaper is being put together for submission to PMO and other related ministries. Please review the information below and if there is an input or two missing on the Solutions, please post it as a comment.

Please respond by End of Day Monday, July 21.

Thanks for your participation and engagement in this collective action for India!

Rajendra Pratap Gupta
Bharatiya Janata Party

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Boosting Jobs and Economic Growth - Identified Issues, Root Causes and Solutions

Issues Identified:
1. INR is getting weaker against international currencies
2. Goods and services are becoming costlier
3. Unemployment rate is high
4. Not enough new jobs created in the market
5. New graduates do not have enough skills
6. Older factories have been closing
7. Sentiments are very low in power/infrastructure sector
8. Project approvals are very slow
9. Many ‘governmental’ hurdles in starting a new business
10. The SME sector is not given due importance
11. Pay does not rise proportionately with price rise /Inflation
12. No minimum pay law
13. Village youth exodus to the metros
14. Infrastructure lacking in villages
15. Agricultural practices have not been sustainable

Root Causes Identified:
1. Lack of focus on Skills but a belief that a degree will get the job creates an industry-academia gap.
2. Lack of importance to industry relevant practical training in higher education
3. Degrees on sale – one could literally pay to get a degree from many small institutions
4. Educational institutes are not properly audited before giving clearances
5. No effort from Government on developing entrepreneurship ecosystem and enabling entrepreneurs
6. Limited research and innovation in most sectors
7. Lack of effective surface transport and infrastructure
8. Poor law and order situation
9. Starting a new business/multi national operation is a tedious process
10. Corruption
11. Import of low quality and cheap goods allowed from China
12. Imports exceed the exports and hence the depreciation of rupee

Solutions identified:
1. Manufacturing Industries should be encouraged to setup plants in less industrialized sections of the cities to get tax holidays
2. More IITs and Industrial trainings institutes should be opened in tier-2 cities which would fuel better development and growth
3. The opening of new private colleges should happen under strict supervision
4. Closer monitoring and restrictions on the low quality cheap import from China so that the Indian manufacturers are able to promote and sell their products
5. The process of starting a new business should be made simpler with one window clearances
6. More focus on research and innovation
7. The government should set up a fund and jump start it to support entrepreneurs/start ups
8. College education should have a relevant practical training module to make students more job-ready
9. Higher education to focus more on skills development
10. Minimize brain drain
11. Setting up of vocational training centres in villages
12. Reforming labour laws for easier recruitment and retrenchment
13. Syllabus of the technical courses should be updated as per the latest industry standards
14. Promote Small Scale Industries and encourage Co-operative sector
15. Hassle free credit facilities need to be provided to the entrepreneurs
16. Focus on population control is required
17. Boosting the infrastructure like high quality roads and water facilities, especially power projects
18. Accountability, processes and systems to be put in place to minimize corruption. more