India, July 15 -- India is standing at a crucial juncture where its evolution into a global power and a developed economy largely depends on how efficiently it tackles the menace of rising unemployment. As per the National Sample Survey Office report, 2017-18, unemployment rate is estimated to be at a 45-year high, reaching 7.8 per cent in urban areas and 5.3 per cent in rural areas.

In one of its recent reports titled, 'South Asia Economic Focus, Spring 2018: Jobless Growth?', the World Bank estimates that every month, the working age population increases by 1.3 million people and India must create 8.1 million jobs a year to maintain its employment rate, which has been declining based on employment data analysed from 2005 to 2015. Surpr...