India’s Job Market to Double in Five Years: A hope or Moral booster

As the economy expands, India’s job recruitment market is also expected to grow in line and double at Rs 2000 crore in the next five years, top industry officials have claimed.

According to experts, the job recruitment market currently is set to grow at 20 per cent annum and touch the Rs 2000 crore mark in five years from the present Rs 1000 crore. The country’s manufacturing sector too is growing at eight to ten per cent and is expected to generate 0.5 million employment opportunities alone.

The shift of industrial activities to smaller towns has also created major job opportunities in these areas. Public sector banks as well as private ones are expected to hire in a big way in the coming years as they expand their footprint into smaller towns

However many experts and intellectuals have claimed that this report is nothing but a morale booster to the unemployed and young generation. They believe that unless the roots of the economy like agriculture and education is developed, the “job boom” would only act as a contemporary solution.