Ravi owns a small shop in Mumbai but at this time can only look helplessly at the customers, insisting on resisting skyrocketing prices of basic goods. “Every day it gets harder to make ends meet”, he says, expressing the feelings of millions of Indians grappling with soaring inflation and joblessness.
The Dilemma of Inflation The unending rise in prices has agonisingly reached every nook and cranny of the world, making the common man carry the unbearable weight of the soaring costs of wheat flour, pulses, cooking oil, petrol, and other indispensable commodities that make the very basis of a human life. The inelastic increase in the price level has invariably put the purchasing power of the citizens under duress, making life harder by the day.
Unemployment: A Worsening Crisis The consequences of this inflationary pressure are manifold, and it further worsens the already deteriorating situation of unemployment. Last year, in India, a law graduate applied for a job as a driver. He was one among over 10,000 jobless people turning up for interviews for just 15 low-skilled government jobs in India. This story epitomizes the depth of the bigger unemployment crisis.
“33 per cent of the educated youth in India are unemployed for want of being ‘future ready’ though they may have university degrees in their possession”. The share of unemployed youth in the total unemployed population was 82.9% in 2022. Similarly, the proportion of educated youth among all the unemployed people grew up to 65.7% in 2022 against 54.2% in 2000.
Government Policies then and now, even the government’s response to this is under a bit of scrutiny. Independent think-tank Centre for Monitoring Indian Economy (CMIE) said the unemployment situation in the country kept hovering near 8% in December and remained above 7% for the most part of 2021. Kaushik Basu, former chief economist of the World Bank, has pointed out that in the recent history of India, such an unemployment rate had not been there and that it was higher than that during the economic crisis of 1991. The government might keep boasting about its successes and initiatives, but the bitter truth that most people face is different – one of struggle and uncertainty.
Unemployment in the 20-24 years category is particularly concerning. Early years of unemployment can lead the youth to lots of bad decisions later in life.
Media’s Role in the Crisis More importantly, the media are supposed to watch over the government, while being the voice of public concern in terms of the voice of the common man. It is, however, disturbing that the realization of this objective is increasingly becoming a matter of sensationalism and diversion as issues of real importance continue to hog the back benches of political rhetoric and sensational headlines. The media, therefore, needs to shift focus back to some real concerns of the public and banging on for change.
Hope in the Turbulence The onus, of course, is very much on the government of Prime Minister Narendra Modi to steer the ship of the country to calmer waters. The government may blow trumpets about the accomplishment and the development agenda, but ground realities cannot be brushed aside where millions of the citizens are still struggling to eke out a living. It is no longer a hidden issue. Unemployment issue can easily derail the Modi government, The time has come for the government to take the welfare of the people as a main priority by putting in place concrete measures to alleviate their sufferings.
The representatives of the opposition rekindle some hope in adversities. This dullness is instilled with the hope of the Congress party to help poor families with monetary resources. This only reminds us how in adversity, political parties must rise over partisan politics to serve the collective good for the nation. As India navigates these rough waters, we need to make sure our mind is informed, and with this, we gather that strength to build our resolve in wanting to construct a new tomorrow. Indeed, we might encounter huge difficulties, but with our resilience, unity, and common effort, we shall overcome them and come out of such turmoil, having grown stronger than ever before. Action, accountability, and solidarity against adversities—together, these are the requirements for every Indian now. Only then might we truly chart a path toward prosperity and positive advancement.
