India, April 22 -- India boasts a demographic dividend, with a working-age population (15-64 years) of around 67 per cent, which can propel economic growth. This momentous opportunity, however, necessitates optimising the potential of the available labour force by ensuring a reduction in unemployment and underemployment and building human capital.
The macroeconomic growth models explain long-term sustainable progress as a function of labour force growth and technology built over time with human capital.
India faces no dearth in population and therefore labour force, but it lacks education, which is necessary to develop individuals' productivity and foster technological advancements. Besides, the economy languishes with high unemployment, ...