Cyclic Unemployment A reduction in the overall level of business activities leads to cyclic unemployment.
Essay 4. Thus the Eighth Plan emphasised the need for a high rate of economic growth, combined with a faster growth of sectors, sub-sectors and areas which have relatively high employment potential for enhancing the pace of employment generation. Thus, the main objective of PMGSY is to provide all weather connectivity to all eligible unconnected habitations in rural areas of the country having population of persons and above in plain areas and persons and above as per census in special category states, selected tribal and desert areas.
A total of 3,99, km road length have been completed and new connectivity have been provided to over 97, habitations up to March It also permits upgradation of existing rural roads. Such a big country like India, if planned well and developed in right earnest has the capacity not only to accommodate all the unemployed of this country but an equal number more can be absorbed keeping in view the bulk of this country and the natural resources which are available here.
This programme is funded fully by the Central Government. Duringabout 25, km of all-weather road including new connectivity to 6, habitations has been completed at an expenditure of Rs 13, crore. It has been estimated that the country will have 94 million unemployment by the year Thus, the employment opportunities in this sector are limited.
More new resource based and demand based industries should be set up for generating employment opportunities. This scheme entitles every adult women who opens an MSY account with Rs to get an incentive of Rs 75 for a year. In this regard, immediate attempts must be made for expansion and modernisation of existing industries in cost-effective manner and also for setting up of new industries.
Gupta, Member, Planning Commission.