Unemployment and Need for Sustainability of Micro, Small and Medium Sized Enterprises in India: A Study

Abstract

India is developing fast in different fields. Rapid economic development has placed India among the leaders in the world stage. However, to a great extent, growth and development scenario is being disturbed by the unemployment situation in the country. On the economic development front, inequality and increasing unemployment are the biggest challenges for the fast developing nation. Unemployment not only hits the financial and social stability but also reflects waste of productive resources of the country. To combat the situation, the union government has taken several steps. Creating a congenial atmosphere for entrepreneurial activities is one of them. The scholastic fraternity also supports the move for encouraging entrepreneurial activities to fight unemployment. However, the growth of entrepreneurship is not enough for a country. There is also the need for sustainability. The present paper, based on the aforesaid argument, discusses on the issues of government initiative, scholastic view on fighting unemployment, analysis of MSME growth in the country, and the sustainability measures in entrepreneurial growth.