Rethinking unemployment: A new vision from the perspective of education as an entitlement
Anagha Tobi and Dr. K Ramachandra Rao
The paper proposes that the capability deprivation in education as well as the lack of skill development in India has resulted in an inequality in employment expansion. It focuses on the widening inequalities in education and hence, employment in the post 2000 India. The shrinking of the organized sector and the prevailing shortages of the skilled labour with the substandard educational system of the country has certainly put the Indian economy in a vicious cycle. The expenditure on higher education seems to have been falling over the years and the deprivation is prevalent also in terms of low quality of education and the poor learning outcomes. The effects of the direct sectoral transition from the agricultural to the services sector in the economy and the repercussions of the same, within the roots of education as an entitlement has to be examined. In the age of demographic dividend, this is a precarious situation where the organised sector offers only less than 10% of the employment and there is lack of skill within the masses and a rising wage gap. There is a need to examine the so called dream run in the Indian economy post 2000’s in contrast to the increasing nature of informality in the workforce participation and skill development of the masses. There exists a paradox of higher demand for skilled labour and shortage for skilled labour with a substantial rise in unemployment and an ever present underemployment. It is inevitable to analyze the degree to which the changing sectoral patterns are resulting in the informality of the labour force participation. The staggering base of the capability approach in the country, on the light of ongoing debates with respect to education as an entitlement must be used to formulate the way forward.
Anagha Tobi, Dr. K Ramachandra Rao. Rethinking unemployment: A new vision from the perspective of education as an entitlement. Int J Finance Manage Econ 2022;5(1):115-120. DOI: 10.33545/26179210.2022.v5.i1.131