HomeNewsOpinionEntrepreneurship is the permanent solution for unemployment

Entrepreneurship is the permanent solution for unemployment

#Sanghnomics: Modi government's approach to give a major boost to entrepreneurship through Mudra loans and start-up India can be seen as a solution to the unemployment problem. The government shouldn't be seen as the employment creator; it should be seen as a facilitator. Arun Anand

April 15, 2024 / 08:27 IST
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The only solution to resolve issue of unemployment is to create opportunities for work by the society.

(Sanghnomics is a weekly column that tracks down and demystifies the economic world view of Rashtriya Swayamsevak Sangh (RSS) and organisations inspired by its ideology.)

In run up to Lok Sabha elections 2024, the issue of unemployment has been staring in the face of most of the political parties. Some of them are promising the moon to the unemployed by offering millions of jobs which don't exist and have no indication of coming into existence in near future. Impractical suggestions related to unemployment allowances and right to internship etc. are being made. These are non-implementable promises and if implemented forcibly, they will wreck the economy.

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Notwithstanding, such wild promises, the fact remains that the problem of unemployment has been a major challenge for both the Indian state and the society since independence and yet not much headway could be made in this direction till around a decade ago when Narendra Modi government started to give a major thrust to entrepreneurship through Mudra loans and start-up India. This was a paradigm shift in our approach that focuses on creating work opportunities instead of seeking jobs.

This approach is more pragmatic as it is impossible for any government to generate millions of jobs every year. The only solution to resolve issue of unemployment is to create opportunities for work by the society. The government shouldn't be seen as the employment creator. It should be seen as a facilitator.