The 2024-25 Financial Survey discovered that over 53 per cent of graduates and 36 per cent of postgraduates are employed in roles under their academic {qualifications}.
Over 53% graduates are employed in roles under their {qualifications}: Survey
When academic and ability ranges are in contrast, just one.28 per cent of individuals with major training, 10 years of training or casual training have specialised abilities.
The report says 32.13 per cent of them have elementary abilities, 66.3 per cent are semi-skilled and 0.29 per cent of them have excessive competency abilities.
Quite the opposite, graduates and postgraduates have larger specialised abilities. Here is an in depth look.
Occupational ability of workersPrimary training, or 10 years of training or casual educationSecondary training, or 11-13 years of educationGraduate degreePostgraduate diploma or aboveElementary skill32.1319.25 3.220.96Semi-skilled66.3 72.18 50.3 28.12High competency skill0.29 2.798.25 7.67Specialised skills1.28 5.77 38.23 63.26
The survey discovered that low-skilled staff are a key problem, and low academic abilities within the workforce create a mismatch between their educational {qualifications} and job market calls for.
It added that financial insurance policies, technological developments, globalisation, and labour market calls for are among the many elements shaping the nation’s skilling and employment ecosystem.
“In the context of emerging global trends, including automation, generative AI, digitalisation, and climate change, aligning the nation’s skill development initiatives with the anticipated transformations in the labour market is vital. The increasing pace of these disruptive changes necessitates the establishment of a resilient and responsive skilled ecosystem. It is imperative to assess how well-prepared India’s youth are for emerging opportunities,” the report said.
The report said that the composition of abilities by training and occupations has important implications for the earnings of people.
“In response to the PLFS knowledge, there’s a robust hyperlink between academic attainment, occupational roles, and earnings ranges.”
The report mentioned 4.2 per cent of the workforce who’ve specialised abilities earn between ₹4 lakh and ₹8 lakh yearly, whereas 46 per cent earn lower than ₹1 lakh, predominantly. Of them, a majority are low to semi-skilled staff like agricultural labourers, clerical workers, manufacturing facility staff, and small-scale service suppliers.
It added that 65.3 per cent of the workforce acquired no type of vocational coaching.