On one hand, higher growth has raised the youth’s aspirations for more meaningful jobs, thereby leading to a mismatch between jobs offered and jobs that educated youth are looking for. On the other hand, in today’s era of the fourth industrial revolution, young people need to be equipped with necessary skills to work with new technologies. Spells of unemployment, particularly long spells, can lead to scarring effects and a higher likelihood of being unemployed later in life and a wage penalty.
Increasing industrialisation, urbanisation and changes in the pattern of life, which accompany the process of economic growth, give rise to increasing quantities of waste leading to increased threats to the environment. India’s 377 million urban folks are generating 62 million tonnes of waste every year.
Micro enterprises are the primary engines of economic development, income growth and poverty reduction in much of the developing world. According to a World Bank report1, the formal SMEs contribute up to 60% of the total employment and up to 40% of the national income (GDP) in emerging economies. Despite their significant role, the growth of micro enterprises is limited on account of the following factors:
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