Problem Of Unemployment In India
ICSE · Class 11 · Economics
Quick revision notes for Problem Of Unemployment In India — ICSE Class 11 Economics. Key concepts, formulas, and definitions for last-minute revision.
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Key Topics to Revise
1. Meaning of Unemployment and Key Terms
- A person is unemployed when able and willing to work at the prevailing wage rate but unable to find work.
- Voluntarily unemployed persons are not counted as unemployed.
- Only persons in the age group of 15 to 60 years are counted in unemployment statistics; children below 15 years and people above 60 years are excluded.
2. Types of Unemployment in India
- Unemployment in India is commonly grouped into rural unemployment, urban unemployment, and other types.
- Rural unemployment includes seasonal unemployment and disguised unemployment.
- Urban unemployment includes industrial unemployment and educated unemployment.
3. Extent of Unemployment in India
- Exact unemployment in India is difficult to measure because concepts differ and correct data are not always available.
- Employment and unemployment data are provided by Planning Commission or NITI Aayog, National Sample Survey Office, and employment exchanges.
- Unemployment rate in 1983 was 9.22% with 24.34 million unemployed persons.
4. Causes of Unemployment in India
- Underdevelopment limits the creation of enough jobs in agriculture, industry, trade, transport, and communication.
- The growth rate of the economy averaged nearly 4 per cent during six decades of planning, but full employment needs 8% to 9% growth per annum for the next ten years.
- Rapid population growth increases the labour force and reduces savings and investment.
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