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Federal Republic Essay First , there was a â€Å" Indias Ninth Five-Year Plan† projects generation of 54 million new jobs during the Plan period (1997-2002). But performance has always fallen short of target in the past, and few believe that the current Plan will be able to meet its target. The Indian youth also get problems in finding job: â€Å" If the unemployment rate observed during 1993-94 continues, the number of unemployed youth in terms of usual status was of 6. 2 million in 2001 . † ( Pravin Visaria 2000:n. p. ) Indias labor force is growing at a rate of 2. 5 percent annually, but employment is growing at only 2. 3 per cent. Thus, the country is faced with the challenge of not only absorbing new entrants to the job market (estimated at seven million people every year), but also clearing the backlog. Sixty percent of Indias workforce is self-employed, many of whom remain very poor. Nearly 30 per cent are casual workers (i. e. they work only when they are able to get jobs and remain unpaid for the rest of the days). Only about 10 per cent are regular employees, of which two-fifths are employed by the public sector. Now, the Indian economy starts recovering but the it’s hard to say that unemployment will be eliminated soon. In the table below the expected level of employment till 2012 is given(which is a very low one). Population and Labour Force: 1997 – 2012 (million 1st April) 1997 2002 2007 2012 Population 951. 18 1028. 93 1112. 86 1196. 41 Labor Force 397. 22 449. 62 507. 94 562. 91 The growing unemployment in India caused a lot of trouble what has been worsening the economical situation since 1980s. It produces the hole in the turnover of the goods as people can’t buy the necessary quantity of products not having enough earnings. Political instability in the late 1980s and oil price shocks resulting from the Persian Gulf War (1991) led to an economic crisis in early 1991, but swift reform measures taken by the newly elected government proved highly successful. Inflation declined from 13.1% in 1991 and 1992 to 8. 6% in 1993 and 1994. However, inflation stood at 14% in 1998. So, as we see, such concern as unemployment influences a lot the whole economical picture of the country. Besides, person that is out of working can’t develop himself and that reflects in a considerable way in the demographic structure of the country. All over the world history the notion of unemployment is associated with the crisis in the economy of any country. Biblioghraphy. 1. No author. 2005. Of economies policies http://www.ilo.org