The video discusses India's unemployment crisis, which is the country's biggest issue. According to the India Employment Report 2024, 1 out of 3 youths in the country is unemployed, and the unemployment rate among graduates is 29.1%. The speaker highlights the contradiction between the country's large market and the lack of jobs for its youth. Despite the government's promises of job creation, the reality is that many Indians are struggling to find employment.
The video goes on to discuss the root causes of unemployment, including:
1. Insufficient educational infrastructure: The country lacks colleges, universities, and educational institutes, leading to a shortage of seats for students.
2. Poor quality of education: Many private engineering colleges have sub-standard faculties and inadequate infrastructure.
3. Limited job opportunities in the private sector: Many companies, including IT giants, have reduced their workforce and are not hiring new employees.
4. Lack of government action: The government has failed to create jobs and has instead reduced corporate tax rates, leading to a loss of revenue.
The speaker suggests that the government needs to:
1. Fill vacancies in government jobs
2. Focus on education and improve infrastructure
3. Promote cooperative and small and micro enterprises
4. Support small businesses and entrepreneurs
The video also emphasizes the importance of individual action, encouraging viewers to:
1. Delete betting and gambling apps
2. Learn a new skill
3. Start working towards their goals
4. Consider starting their own business
Overall, the video highlights the need for a multifaceted approach to address India's unemployment crisis, involving both government action and individual initiative.
Here are the key facts extracted from the text:
1. According to the India Employment Report 2024, 1 out of 3 youths in India is unemployed.
2. The unemployment rate in India has reached 29.1% among those who already have a graduate degree.
3. India has a population of 1.4 billion people, creating a big market for various products and services.
4. Foreign companies, such as PepsiCo and Coca-Cola, earn millions and billions of rupees in profit in India.
5. PepsiCo's yearly revenue in India is ₹80 billion, while Coca-Cola India's yearly revenue is more than ₹128 billion.
6. India has become the 5th largest economy and is expected to become a $5 trillion economy soon.
7. The Prime Minister of India, Narendra Modi, had promised millions of jobs, but the government has not been able to provide them.
8. The dropout rate in India is 12.61% at the secondary level, 3% at the upper primary level, and 1.45% at the primary level.
9. Around 3.5 million students from the 10th grade could not get to the 11th grade.
10. The total number of eligible students in India is more than 30 million.
11. Most of the 12th-pass students decide to study further in colleges, but there are not enough college seats to accommodate them.
12. The median fee in private medical colleges in India is ₹1.15 million per year, making it unaffordable for many families.
13. According to the UDISC report, 90% of Indians earn less than ₹25,000 per month.
14. The number of seats in engineering colleges in India has been decreasing over the last 5 years.
15. In 2017-18, there were 1.465 million seats in engineering colleges, which decreased to 1.253 million seats in 2021-22.
16. Around 50% of the seats in engineering colleges are vacant.
17. The quality of education in most private engineering colleges is quite low, with sub-standard faculties and inadequate infrastructure.
18. Only 44.51% of the faculty in engineering colleges across India have a PhD.
19. The Ministry of Education reported that 4,500 faculty posts are vacant in IITs.
20. The total seating capacity in ITIs is around 2.5 million, but the number of eligible students is more than 30 million.
21. The Indian Staffing Federation reported that 6% of contract workers lost their jobs in the IT sector in India in the March quarter of 2023.
22. More than 11,000 Indian startup employees were laid off in June 2023.
23. A layoff tsunami hit in August 2023, with tech companies firing more than 200,000 employees.
24. The McKinsey Health Institute reported that India is at the top in terms of workplace burnout, with 62% of Indian employees reporting workplace exhaustion.
25. The central government has more than 950,000 job vacancies, while different state governments have reported more than 6 million job vacancies.
26. The government needs to improve infrastructure in schools, colleges, and institutes, and set up new educational institutes to provide more seats.
27. The government needs to promote cooperative and small and micro enterprises to generate employment.
28. The government needs to provide means of production, storage space, and market mechanisms to support small businesses.
29. The government's corporate tax reduction from 30% to 22% in 2019 resulted in a loss of more than ₹1 trillion in one year.