There are around 950 universities 55,000 colleges 3.5 crore students studying in these universities and colleges. Today the country is not suffering from the issue of unemployment rather it is underemployment.
It feels my heart with utmost despair when graduates do not find themselves employable after spending 4 years in their colleges with the hard-earned money of their parents from an educational loan. I don’t disagree with the fact that India has got a literacy rate of 92% but I also agree that this literacy is all about earning certificates and papers that they think are worth preserving but nobody values the skills that come along with those courses and certificates. Today 93% of the graduates in India are unemployable and we proclaim that India has a literacy rate of 92%. What is the use of such a degree that can’t make you repay your loans or at least make you earn your daily meals?
According to a report by Business standards. An MBA from the Indian School of Business costs around 20 lacs and when a student from a lower-middle-class background aspires to study in these colleges applying for an educational loan becomes a necessity. Everything is well and good at this point in time but the real problem arises after 4 years of graduation when they leave their colleges and turn unemployed. Even if employed the salary that freshers earn is even not enough to pay their EMIs and this has resulted in a tragedy where 17% of the educational loans have turned to be a non-performing asset. There is nothing like a catch when a son of a rickshaw puller clears UPSC exam with meritorious rank and the media personnel of our country make it quite difficult for them to walk in their streets but it makes me worry when the media channels completely forget to highlight the stories of thousands of those rickshaw pullers and their children who at the end find themselves in such a position where they can’t decide whether the salary of their siblings should be dedicated to pay back their educational loans or to buy groceries and other requirements for their family just because their salary is not enough to go for both of them. All these problems arise only because the college environment has never been equivalent to the corporate environment. The colleges are forgetting that in the end the students are going to step into the corporate world and they need to fulfill their demands. Today when the corporate world demands men where a single man can take up the responsibility of five men, the colleges are producing graduates where five graduates together can’t take up the responsibility of a single man. Today the students in India lag the right skillset that can make them earn the right amount of money. The students rather than developing their skills search for colleges that can earn them a degree and this degree in return earns them a salary that is not even enough to meet their own needs. Students should primarily concentrate on developing the skills and always stay motivated while the colleges must take the right steps to make the students learn skills and apply those skills in a practical scenario through case studies, projects and internships. If colleges do not include this into their curriculum in the right manner because the latter two elements already exist but they must be implemented and checked in the right fashion. Or else those four years will rather turn to be a prison where the students are spending four years of their valuable life and getting no recognition. The colleges should keep their profit-making policy aside and consider the vision of the corporate world where skills are considered to be the most valuable assets and can make anyone earn money from anywhere and anytime.