55% of the farm sector contribution in India has done an excellent job during the lockdown. The deadly Covid-19 lockdown has blown the employability of the people leading to sudden job losses and reduced productivity. It severely affected both formal and informal employees through job losses and salary cuts. The migrant workers’ departure in huge numbers has seized the attention of people around the country. Also, the impact reduced the commercial and economic activities of the entire nation. According to CMIE data, the unemployment rate fell from 7.8% to 6.9% in 2021 February 2020. In 2020 March, the unemployment rate has peaked at 8.8% during the first month of lockdown.
Government Efforts to Reduce Unemployment Crisis
According to the experts’ opinions, the government plans to create 50 lakhs to 60 lakhs jobs through ABRY within two years. These objectives need well-planned implementation and close monitoring to come into reality. Garib Kalyan Yojana scheme from the government contributes 12% employees share and 12% employers share under EPF (Employees Provident Fund) between March and August 2020. The companies have a minimum of 100 employees, and 90% earn less than 15,000. The PMGKY scheme offered 38.82 lac EPF amounts for the eligible employees. During 2019-20 the government paid 78.58 lakhs to the EPF availed employees. This scenario well depicts the employment crisis in India.
Ways to Overcome Unemployment in India
Unemployment is a serious challenge that needs to address immediately. If we didn’t handle this now, then it’ll become more severe in the future. Releasing the funds and encouraging the companies to retain the employees by offering benefits from the government can be instant solutions. Focusing on skill development training for the underserved and underprivileged communities can be the best way to solve the unemployment crisis up to a great extent. Apart from IT and ITES, there are a lot more sectors we need to develop. Unfortunately, many states and central governments are looking into the IT sector whenever employment should increase.
We need to strengthen the manufacturing and agricultural sector to create more opportunities;
the jobs in this sector offer less salary than information technology industry jobs, but can’t rely on one industry to create jobs for everyone.
A lot more organizations, corporate social responsibility teams are also looking to care for the poor and underprivileged in India. ISFH Foundation is a nonprofit that conducts free skill development for the unemployed and underemployed youth. The organization has multiple missions for several categories, and unemployment is one of the esteemed missions of the ISFH Foundation. The organization identifies the genuine underprivileged unemployed by conducting surveys and offers multiple courses that offer promised and dignified jobs. Currently, ISFH offers four-category skill development courses such as DCA, Spoken English, Advanced Tally, and similar kinds.
Helping the unemployed through funds may not yield long-lasting results; hence ISFH took the responsibility to serve the unemployed by providing free skill development training. Join the unemployment mission of ISFH Foundation to reduce unemployment in India and foresee an economically powerful nation.