“With the number of educated unemployed youth running in lakh, the need for employment creation through youth entrepreneurship is undeniable,”
Srinagar—Billing youth unemployment as one of the major challenges faced by the state, Economic Survey Report calls for that the need for employment creation through youth entrepreneurship as undeniable.
“With the number of educated unemployed youth running in lakh, the need for employment creation through youth entrepreneurship is undeniable,” reads the ESR, tabled in the state legislature by the finance minister Dr Haseeb Drabu. “While hindered by the overall employment situation in the state, this challenge has its own specific dimensions & therefore requires specific targeted responses,” it underlines.
It said that 196100 educated unemployed youth registered in the state till October 2017, compared to 413281 youths last year. In contemporary times, lesser number of educated youth register themselves with the government.
“To boost employment & job creation for educated unemployed youth, entrepreneurship is undeniably accepted as an important means & a pivotal strategy to create jobs & improve livelihood with an aim to foster an inclusive economic environment in the overall state,” it said.
The crucial role played by the youth entrepreneurship in driving state’s economic development & job creation was well understood and with the passage of time efforts are been increases to nurture and foster youth entrepreneurship through specific & well designed framework which need further consolidation, it says further.
As per previous ESR, the number of unemployed youth registered in various District Employment Exchanges of the J&K State is 111077 lakh as on ending March, 2016.
“In JK, unemployment rate is 24.6 percent using Usual Principal Status (UPS) approach, while as the persons in the age of 18-29 years had UR 13.2 percent at the All India Level using UPS approach,” states the ESR 2016
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