Economy on a growth path
Dr Kangna Yadav
Managing Director at CERT Group & Shree Ram Group of Institutions, Hospitals, and Schools.
India is the only country feeding 81 crores of its people with free rations.While this effort seems monumental, it also reveals a painful truth - Millions of our fellow Indians can’t afford even basic necessities.Looking at the state of our economy, the Supreme Court asked an uncomfortable question in December 2024 - “For how long can such freebies continue? Why not focus on creating jobs and opportunities instead?”Here’s the reality we face:- Inflation at 5.22% is eating into the purchasing power of millions- Wage growth in agriculture and construction? A meagre 0.2% to 0.9%- Job creation? Even 7% GDP growth might not fill the gap over the next decade- And a fixation on government jobs is holding back a generation from exploring other pathsSo, how do we break free?- Reignite the manufacturing sector with employment hubs that generate jobs- Break free from traditional mindset and inspire young minds to pursue diverse careers- Equip youth with skills for job-intensive industries like tech and manufacturingWith over 73 million MSMEs contributing approximately 30% to India's GDP and employing around 120 million people, entrepreneurship isn't just an option.It's the solution to economic distress.This isn’t a quick fix. Transformation takes time—but the roadmap is clear.