Skilling 12% More Workforce Can Raise Jobs by 13% by 2030: Report

The review states that, according to the findings of the PLFS 2023-24, the percentage of youth in the 15-59 age group receiving some form of vocational or technical training has improved. It has increased from 8.1 percent in 2017-18 to 34.7 percent in 2023-24.

This demonstrates the positive impact of skill development initiatives in India. However, the challenge is that only 4.9 percent of youth in the 15-29 age group have received formal vocational or technical training, while 21.2 percent have received training from informal sources. This is why expanding skill training is recommended.

Based on the findings of the National Survey 2024, the Economic Survey states that only 47 percent of schools offer skill-based courses in grades nine and above. Even here, participation is only 29 percent.

Experts have underlined the need to incorporate comprehensive vocational education into general education from an early stage. They also emphasize the need for skill development in agriculture and services, citing their high employment potential.

Although India’s population is a strength, it also has some weaknesses. In discussing this, experts have pointed out that India still enjoys the advantage of a working population of 15-59 years, which is expected to rise to more than 980 million in the next ten years.

According to the United Nations, the demographic dividend is expected to occur in the country by 2030, when the population is expected to reach 65 percent of the total population, falling in the 15-59 age bracket. Adding to the challenge is the gradual aging of the population, which is characterized by the fall of the total fertility rate to below replacement. This is increasing the age of the population, thus marking the beginning of the demographic transition.