Risk of demographic disaster if jobs are not created: Ex-Prez

| | Mumbai

Former President Pranab Mukherjee on Monday said the country’s demographic dividend runs the risk of turning into a “demographic disaster” if employment is not generated.

The country has achieved an economic growth of 6-8 per cent in the last couple of decades but the inequality among different classes of the society is still huge and unacceptable, he said.

Speaking at the Dr M Visvesvaraya Memorial Lecture at the World Trade Centre here where industrialist Ratan Tata was conferred the WTCA Award of Honour, Mukherjee said the rapid economic growth has not reflected itself fully in corresponding rise in employment.

“There is rising inequality among the different classes of the society which cannot go on for a long period,” he said.

Citing the National Sample Survey Organisation, the former president said that top 10 per cent of the population owns 61.51 per cent of the assets while the bottom 50 per cent has a share of only 4.77 per cent of the assets.

Further, the World Inequality Report of 2018 states that top 10 per cent of the population holds 54.2 per cent of the national share in income while the bottom 50 per cent has only 15.3 per cent.

“This gap is huge. It is evident from these figures that the trickle-down theory is no answer to the problem and has failed,” the former finance minister said. Raising concerns over the rising unemployment, he said the country ran the risk of a demographic disaster.

“In my opinion, a jobless growth is no growth for the Indian situation. A nation of more than 1.2 billion people and with a growing young population, enjoys a huge demographic advantage which has the potential to drive India’s economic growth in the current century and beyond,” he said.

Mukherjee further said that 63.5 million people in the age group of 20-35 years have entered the workforce in the last five years and it is estimated that by 2020 more than 50 per cent of the population would be below the age of 25 years.



Sunday Edition

View All

Dabholkar murder case: Sharpshooter in CBI net

19 Aug 2018 | TN RAGHUNATHA | Mumbai

Five years after the renowned rationalist Narendra Dabholkar was shot dead by two unidentified gunmen in Pune, the CBI on Saturday arrested one of the sharp-shooters who allegedly pulled the trigger. Identiying the arrested person as one Sachin Prakashrao Andure from Aurangabad, a senior official said that Andure was one of the sharp-shooters who allegedly shot Dr Dabholkar...

Read More


View All

Ranchi girl wins Int’l beauty contest

19 Aug 2018 | PNS | Ranchi

Yet another girl from the Capital City Khushboo Vijay became the winner of Miss India International Global 2018 and will be representing India next year in Malaysia 2019 for World Finale. The event was held in Guwahati on August 2018...

Read More

Page generated in 0.1972 seconds.