Growth & the Tier-2 City
Despite being the fastest-growing large economy, India faces the issue of high employment. The situation highlights the need of good infrastructure, both physical and human, to create more jobs.
Lop-sided Development and Unemployment
- India's Growth-Unemployment Paradox: India's rapid economic growth alongside high youth unemployment is attributed to skewed development policies.
- Demographic Advantage: With a significant young population, India's demographic structure offers potential, but lack of jobs constrains its benefits.
- Importance of Balanced Growth: The necessity of creating employment opportunities aligned with economic growth is emphasized.
Human Infrastructure Deficit and Education
- Infrastructure Imbalance: While physical infrastructure has progressed, the deficit in human infrastructure, particularly education and skills, hampers job growth.
- Education's Impact on Job Creation: Investing in education is key, as the returns on education investment are high, and educated individuals contribute to job creation.
- Challenges and Quality Concerns: Poor quality, faculty shortages, outdated curricula, and the need for creative thinking hinder effective education delivery.
Governance, Tertiary Education, and De-urbanization
- Governance Enhancement: The complexity of the education system necessitates improved governance, monitoring, accountability, and performance assessment.
- Role of Tertiary Education: Scaling up tertiary education can create a professional workforce capable of driving new enterprises and job creation.
- Urbanization and Job Creation: India's urbanization and industrialization paths have diverged, leading to pre-mature de-industrialization, underscoring the importance of balanced spatial development.