Niti Aayog member Arvind Virmani has raised concerns about the disparity between the increasing employment rates in India and the stagnant real wages for regular jobs over the past seven years. He emphasized the importance of taking advantage of India’s demographic dividend by improving the quality of education and training.
Virmani pointed out that while the worker-population ratio has been on the rise, especially for casual workers, the real wages for regular salaried jobs have not kept up with inflation. He attributed this trend to the lack of skilled workers in the job market. He stressed the need for skill development at all levels of education, not just for new entrants but also for those who drop out of school prematurely.
The economist highlighted the critical role of quality education and skills in driving productivity and increasing real wages. He underscored the need for continuous improvement in skills at every level of the workforce to meet the demands of various job roles. Virmani also emphasized the need for enhancing the supply chain and focusing on job creation at the district level.
In conclusion, Virmani emphasized that job and skill development go hand in hand, reiterating the importance of acquiring the necessary skills to secure employment. He called for a concerted effort to leverage India’s demographic advantage by enhancing education, training, and skill development initiatives across the country.
