Anand Mahindra, Chairman of Mahindra Group, emphasized on Wednesday that India’s private sector must enhance its efforts to align with the government’s initiatives for job creation and youth employability. Without a unified approach, he warned, the nation’s demographic dividend risks turning into a demographic disaster.
He responded to the Union Budget for 2024–25 by saying it provides proof that the government understands the need for growth along with job creation.
When it comes to GDP growth, we are the envy of the whole globe. Because we have faith in our future, we are the world’s most sought-after location for investment,” Mahindra stated in a post on the social media platform X.
He added, “The crucial challenge now is to ensure that this growth is matched by a surge in job creation.”
Mahindra observed, “For me, the key takeaway from yesterday’s budget is the clear acknowledgment by the government of its foremost mission. It underscores that equipping young people with skills for employability is just as crucial as job creation itself.”
According to Mahindra, the plans that Finance Minister Nirmala Sitharaman unveiled are auspicious. “But they need to be tracked closely to ensure that the incentives are working and if any tweaks or modifications are required,” he said.
Mahindra expressed that the private sector “needs to step up to the crease and do its part by investing in both employment and employability,” urging them to do their share as well.
The demographic dividend will revert to becoming a demographic calamity, he warned, unless we can all work together to complete this mission.