Can this be the looming disaster for the fastest growing economy in the world?
The biggest problem of South Asian economies is the growing unemployment and underemployment of youth. IMF senior economist John Bluedorn said today that the inactivity of the Indian youth lies at 30% – largest in the subcontinent and all emerging nations. The population growth and age demographics takes India to the category of fastest growing economy. But idle youth is enormous and rising fast with population growth
The biggest challenge, according to Bluedorn is the lack of proper jobs, technological innovation taking away basic jobs, poor job environment and gap between male and female wages.
The biggest problem is if the world economy loses the global GDP growth by 1%, impact on Indian youth will be enormous.