With one out of every three graduates unemployed in India, will Modi be able to fulfill his promise?

Creating new jobs is a challenging task and also plays a very important role in the economy of a country. Drop in the financial market also hits the job market and creates unemployment, which creates tension for the people specially 'youth ' of the country. While the rising unemployment level among the youth in India is a worry, but a much bigger cause of concern is that with the rising level of education, the rate of unemployment has progressively increased.

If you are illiterate and don't have a degree, you are more likely to get a job in India

According to Labour Bureau's "Third Annual Employment & Unemployment Survey 2012-13" released on Thursday (November 29, 13), unemployment rate amongst illiterate youth is lower than educated youth. A comparison with the earlier report by labour bureau shows that the unemployment level has increased during 2012-2013 over 2011-2012.

While unemployment rate among illiterate youth is lowest with 3.7 per cent for the age group 15-29 years at all India level in 2012-2013, the unemployment rate in the same category was reported at 1.2 per cent in 2011-2012 report.

Similarly, the unemployment amongst the graduate youth that happened to be at 19.4 per cent in 2011-2012 increased to 32 per cent during 2012-2013.

As stated in the report, the unemployment rate amongst the educated youths reportedly increased with increase in their education level.

Statewise facts and figures:

In 2011, the unemployment rate was 3.5 per cent while it was 3.6 per cent in 2012 and rose to 3.7 per cent in 2013.

As per a TOI report, "Statewise unemployment figures reveal that while most states have approximately the same proportion of households with some member unemployed as the national average, some states have much higher rates. These include Jammu & Kashmir with about 48% households having unemployed persons, Bihar (35%), Assam (38%), West Bengal (54%), Jharkhand (42%), Odisha (39%) and Kerala (42%).

At the other end, Maharashtra (14%), Gujarat (12%), Andhra Pradesh (18%) Karnataka (14%) and Tamil Nadu (18%) all seem to be doing much better than other states in providing jobs. These are states with high degrees of industrialization and of urbanization."

One out of every three graduates is unemployed in India

The report on ‘Youth employment- unemployment scenario, 2012-13′ which is based on a survey by the Labour Bureau in Chandigarh said that one out of every three persons in the age group 15 to 29 years who have completed at least their graduation is unemployed.

Moreover, the survey found that the unemployment rate among the persons who cannot read and write any languages or are considered illiterate was the lowest with 3.7 per cent without work in the 15-29 age group.

Congress-led UPA derailed the economy, how will Modi Government bring it back on track?

Change was the buzzword during the campaigning for 2014 Lok Sabha election. Boosting the job market topped the list of changes Modi promised during his campaigning.

Reports have said that five years of Atal Bihari Vajpayee-led Government (between 1999-2004) created 5.4 crore jobs while the first seven years of Congress-led UPA regime (between 2004-11) could manage to generate merely 1.5 crore jobs.

UPA's dithering policies failed to maintain the momentum of economic growth and it proved to be catastrophic for the country as well as its youth.

India needs to create over one million jobs annually for its unemployed youths while the International Labour Organisation (ILO) stated in its recent report that unemployment rate in India has been on rise in the recent years. ILO also estimated that India's unemployment rate could be 3.8 per cent in 2014.

Unemployment not only has financial impact but also has many social impacts like increase in cases of theft, violence and other criminal activities. And not to forget poverty which is directly linked with unemployment as well as inequality. Job creation is vital for the growth of the economy which means that majority of India's population will be out of poverty.