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The Hindu
4 days ago
- Business
- The Hindu
Don't merely enrol students, but equip them with skills
As the admission season for colleges and universities begins, institutions across India are once again promoting their programmes under banners promising knowledge, transformation, and research excellence. This growth in enrolment at the undergraduate, postgraduate, and PhD levels suggests a dynamic academic landscape full of potential. Yet, beneath this expansion lies an important challenge: degrees are proliferating faster than meaningful job opportunities. A gap that needs attention According to data released by the Ministry of Statistics, the unemployment rate in India tends to increase with higher education levels. This paradox reveals a critical gap between academic achievement and employability — a gap that requires urgent attention. This challenge is particularly acute in India's vast network of non-elite institutions in Tier 2 and tier 3 colleges, where most students pursue BA, BCom, or BSc degrees and their corresponding master's programmes. These institutions often face resource constraints and limited industry connections, operating with curricula that have not kept pace with the evolving job market. While elite colleges make headlines for placement challenges, the gradual erosion of employability in everyday colleges often goes unnoticed. In many such institutions, instruction remains largely theoretical, with limited emphasis on real-world skills. For example, an English literature student might study Shakespearean tragedy yet miss out on learning practical skills such as writing professional emails. Similarly, an economics graduate may understand complex theories but struggle with everyday tools such as Excel. This disconnect means millions of educated young people find it difficult to translate their degrees into career opportunities. This situation stems partly from a deeply entrenched academic culture that values scholarship and abstraction over practical application. Within many academic circles — even prestigious ones — higher education is often celebrated as an end in itself, while immediate employment is sometimes subtly undervalued. Postgraduate degrees and PhDs are frequently pursued not just for intellectual fulfilment but as a refuge from the job market, creating a cycle where many graduates end up teaching in the very colleges that perpetuate the same system. It is important to recognise that successive governments have acknowledged this issue. Initiatives such as Skill India, Start-Up India, and the National Education Policy have pushed for skill development, vocational training, and entrepreneurship. However, the transformation remains incomplete. Many undergraduate and postgraduate programmes continue to emphasise rote learning over practical skills. While new courses in AI or entrepreneurship are being introduced, they often lack depth, and integration into the broader curriculum. A broader societal challenge Countries such as China and Japan have successfully aligned education with economic strategies by elevating technical and vocational education to a central role in workforce development. In India, vocational training is still often perceived as a fallback option, both within academia and society. This stigma limits the appeal and effectiveness of skill-based education, despite its vital role in economic empowerment. This contradiction highlights a broader societal challenge: degrees are highly valued as symbols of upward mobility, but they increasingly fail to guarantee it. This is not a call to abandon liberal education or abstract learning — they remain essential for critical thinking and creativity. However, education must also provide tangible economic benefits. Degrees should offer pathways to agency and dignity, especially for students from smaller towns and under-resourced institutions. A way forward lies in integrating practical skill modules — communication, digital literacy, budgeting, data analysis, hospitality, tailoring, and health services — into general degree programmes as core elements, not optional extras. Doctoral education should be diversified to prepare candidates for policy, analytics, consulting, development, and industry roles, not solely academia. Research remains vital, but it must be pursued by those inclined towards it. Finally, the widespread aspiration for government jobs reflects the limited opportunities graduates currently perceive. While these roles remain important, expanding private sector and entrepreneurial pathways through improved employability will offer youth a broader range of options. Enhancing skills and opportunities can reduce the over-dependence on competitive exams. India's growing economy demands an education system that not just enrols students, but equips students with skills. Viewing education as a social contract that guarantees a meaningful connection between learning and livelihood is essential. Gourishankar S. Hiremath teaches Economics at IIT Kharagpur. Views are personal
Business Standard
4 days ago
- Business
- Business Standard
India's GDP growth comes in four-year low of 6.8% in FY25
Ministry of Statistics data showed today that Indian economy grew at a rate of 7.4% in the fourth quarter of FY 2024-25. The government has pegged the full fiscal year GDP growth at 6.5% provisionally coming at a four-year low and sharply below 9.2% in FY 2023-24. Nominal GDP has witnessed a growth rate of 9.8% in FY 2024-25. Despite the weak performance on the annual front, in the quarter ending March 2025, Indias growth marked highest in the four quarters following robust industrial activity. Data showed that Construction sector is estimated to record a growth rate of 9.4% in FY 2024-25, followed by 8.9% growth rate in Public Administration, Defence & Other Services sector and 7.2% growth rate in Financial, Real Estate & Professional Services sector. During Q4 of FY 2024-25, Construction sector has witnessed 10.8% growth rate, followed by 8.7% growth rate in Public Administration, Defence & Other Services sector and 7.8% growth rate in Financial, Real Estate & Professional Services sector. Primary Sector has seen 4.4% growth rate as compared to growth rate of 2.7% observed in previous financial year. During Q4, FY 2024-25, this sector has observed 5.0% growth rate as compared to 0.8% growth rate in Q4 of previous financial year. Private Final Consumption Expenditure (PFCE) has reported 7.2% growth rate during FY 2024-25 as compared to 5.6% growth rate in the previous financial year. Gross Fixed Capital Formation (GFCF) has recorded 7.1% growth rate during FY 2024-25 and 9.4% growth rate in Q4, FY 2024-25. The fourth quarter of FY 2024-25 shows Real GVA estimates of Rs 45.76 lakh crore, compared to Rs 42.86 lakh crore in the corresponding quarter of FY 2023-24, demonstrating a 6.8% increase. The Nominal GVA for Q4 FY 2024-25 stands at Rs 79.46 lakh crore, whilst Q4 FY 2023-24 recorded Rs 72.51 lakh crore, indicating a 9.6% growth. Data showed that for the entire fiscal year 2024-25, Real GVA calculations reach Rs 171.87 lakh crore, as opposed to the First Revised Estimates of Rs 161.51 lakh crore for FY 2023-24, displaying a 6.4% growth. The Nominal GVA figures for FY 2024-25 are projected at Rs 300.22 lakh crore, in comparison to Rs 274.13 lakh crore in FY 2023-24, exhibiting a 9.5% increase.
India Today
5 days ago
- Business
- India Today
India GDP data to be released today: What should investors expect?
India's latest GDP numbers for the January–March quarter (Q4 FY25) and the full year 2024–25 will be released on Friday by the Ministry of Statistics. This data will give a clear picture of how the economy has performed in the past year, especially in the final this year, the National Statistical Office had estimated that India's economy would grow by 6.5% in 2024–25, with an expected growth of 7.6% in the March Reserve Bank of India, too, had projected a 6.5% growth rate for the full year during its April Monetary Policy Committee TO EXPECT FROM INDIA'S GDP DATA?According to a report from the State Bank of India, the Indian economy is expected to grow by 6.3% in 2024–25, with the March quarter showing growth between 6.4% and 6.5%. The report noted that India has stayed 'largely resilient' despite a weaker global economy and rising global tensions. It added that the country has managed to handle changing conditions a credit rating agency, believes that Q4 growth will be around 6.9%, while CareEdge expects it to be 6.8%. ICICI Bank and Union Bank of India have both projected a growth rate of 7% for the March quarter.A Reuters report, based on a poll of economists, suggested that India's GDP likely grew by 6.7% year-on-year in the March quarter. This would be higher than the 6.2% growth seen in the previous report stated that higher rural demand and more government spending helped the economy during the period. However, it also said that private companies were slow in making new investments because of global Manoranjan Sharma, Chief Economist at Infomerics Valuations and Ratings Ltd, said that the Indian economy continues to show strength.'India's economic trajectory remains resilient despite global headwinds and regional geopolitical tensions,' he said. He added that growth of 6.4% in FY25 and 6.5% in FY26 is being driven by strong domestic demand, steady government spending on infrastructure, and a slow but steady increase in private investment. He also pointed to a strong banking system, solid performance from the services sector, and improvements in manufacturing under the PLI scheme as positive release of the GDP figures comes just after India became the fourth-largest economy in the world, overtaking Japan. Only the United States, China, and Germany are now ahead of India. "Steadily improving macros like resilient GDP growth, down trending inflation and interest rates and declining fiscal and current account deficits lay the foundation for a strong economy and earnings recovery in the medium term. Investors should remain invested and buy quality stocks on dips," said Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)Must Watch
Business Standard
6 days ago
- Business
- Business Standard
IIP grows at eight month low of 2.7% on year in Apr-25
Ministry of Statistics released Quick Estimate of Index of Industrial Production (IIP) data today. The IIP growth rate for the month of April 2025 is 2.7 percent which was 3.0 percent (Quick Estimate) in the month of March 2025. The growth rates of the three sectors, Mining, Manufacturing and Electricity for the month of April 2025 are -0.2 percent, 3.4 percent and 1.1 percent respectively. The Quick Estimates of IIP stands at 152.0 against 148.0 in April 2024. However, the current figure marks lowest yoy growth in IIP in eight months. Within the manufacturing sector, 16 out of 23 industry groups have recorded a positive growth in April 2025 over April 2024. The top three positive contributors for the month of April 2025 are Manufacture of basic metals (4.9%), Manufacture of motor vehicles, trailers and semi-trailers (15.4%) and Manufacture of machinery and equipment n.e.c. (17.0%). The corresponding growth rates of IIP as per Use-based classification in April 2025 over April 2024 are -0.4 percent in Primary goods, 20.3 percent in Capital goods, 4.1 percent in Intermediate goods, 4.0 percent in Infrastructure/ Construction Goods, 6.4 percent in Consumer durables and -1.7 percent in Consumer non-durables. Based on use-based classification, top three positive contributors to the growth of IIP for the month of April 2025 are Capital goods, Intermediate goods, Consumer durables.
Hans India
15-05-2025
- Business
- Hans India
WPI inflation falls to 13-mth low of 0.85%
New Delhi: India's annual rate of inflation based on the Wholesale Price Index (WPI) slowed to a 13-month low of 0.85 per cent in April, down from 2.05 per cent in March and 2.38 per cent in February, according to data released by the Ministry of Commerce and Industry on Wednesday. The month-over-month change in WPI for April was in the negative zone at (-) 0.19 per cent as compared to the previous month of March, reflecting the declining trend in inflation. There was a decline in prices of food as well as a double digit decline in fuel prices, compared to the previous month, which resulted in the overall month-on-month inflation rate turning negative. Meanwhile, the country's retail inflation has also come down from 3.16 per cent in April from 3.34 per cent in March to its lowest level since July, 2019 as food prices eased further bringing respite to household budgets, according to figures released by the Ministry of Statistics on Tuesday, Food inflation, which accounts for nearly half of the Consumer Price Index (CPI) basket, slowed to 1.78 per cent in April, compared to 2.69 per cent in March. This is for the third month in a row that inflation has stayed below the RBI's 4 per cent medium-term target and will enable the central bank to continue with its soft money policy to spur economic growth. Retail inflation in the country has been on a declining trend in recent months. The Reserve Bank's Monetary Policy Committee has reduced its inflation forecast for 2025-26 to 4 per cent from 4.2 per cent earlier 'as the outlook for food inflation has turned decisively positive,' RBI Governor Sanjay Malhotra said during the monetary policy review meeting recently. The uncertainties regarding Rabi crops have abated considerably and the second advance estimates point to a record wheat production and higher production of key pulses over that last year.
