India during the last decade or so have been experiencing good but jobless growth. Cities in India have a big informal sector and job opportunities in formal sector are very scanty both in the secondary including manufacturing and tertiary / services sector. As India’s population is  very young (65% of India’s population is below the age of 35) and each month nearly one million population enters the work force (both urban and rural), Indian cities , experiencing lot of migration from rural areas as large number of them migrate in search of livelihood opportunities, have to create more and more jobs both in the manufacturing and services sector. Currently, the National Government is trying to focus on new initiatives such as Skill India.

Skill India is an initiative of the Government of India. It was launched by the Prime Minister Narendra Modi on 16 July 2015 with an aim to train over 400 million people in India in different skills by 2022.The initiatives include National Skill Development Mission, National Policy for Skill Development and Entrepreneurship 2015 and the Skill Loan scheme.

This initiative is also focusing on  partnership with other countries such as UK which  will be contributing to this program. Virtual partnerships are being initiated at the school level to enable young people of either country to experience the school system of the other country. MNCs like Oracle are also supporting this initiative to build computer skills. Besides these, new initiatives also include Start-up India. Startup India campaign is based on an action plan aimed at promoting bank financing for start-up ventures to boost entrepreneurship and encourage start ups with jobs creation.  These should help creating more jobs in the formal sector and also more productive jobs in the informal sector thus making the process of Indian urbanisation more and more inclusive and sustainable. 

I would essentially repeat what I wrote in response to the first question. As former World Bank economist Joseph Stiglitz has consistently pointed out, almost all societies have been dominated by “rentier” interests (i.e., by those who by virtue of their control over valuable land are able to claim what others produce without having to produce anything in exchange). “Rent-seeking” is a powerful and destructive driver in my own community, and our laws reward this behavior over the production of goods and services. One appropriate example is the favorable tax treatment given on the gain of the sale of any asset, which are referred to as ‘capital gains.” However, in the real world actual “capital goods” (i.e., machinery, plant and equipment, technologies, etc.) never sell for more than the cost of acquisition. Such assets only depreciate over time. Gains on the sale of financial instruments are taxed at a rate lower than are wages people earn producing goods or providing services.