The government will be able to completely cash in on the demographic dividend of the country by generating more employment opportunities for the youth. Comment.
The government has miserably failed on its commitment on employment generation. The latest step as announced by the government to bring down the contribution of the salary of both the industrial workers and employers towards the Employeesï¿½ State Insurance Scheme from 6.5% to 4% is first such reduction seen in last 20 years. The ESI is applicable to companies having more than 10 employees who draw a salary of Rs. 21,000 in a month. Thus, all the MSMEï¿½s comprise this bracket. This reduction will thus bring the much-required financial relief to the workers who operate in the lower end of the economy. Also, it will come to benefit the employers as their financial liability will be reduced. But, this is not enough and the government has to generate newer sources of employment for cashing in on the youth bulge of the countryï¿½s demography.
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