A study on India’s demographic profile and NEP-2020
India, one of the fastest growing Asian economy, with it's 1.35 billion population, is also one of the youngest nations in world. Almost two-thirds of it's population is in the working age bracket of 15-59 years, which clearly shows that India has demographic dividend, which started long back in 2005-06 and would continue till 2055-56. Now this demographic dividend has created immense growth potential for India, but with its own share of challenges. One of the biggest challenges posed by this enormous size of young population, is to provide them with gainful employment. If we analyse the performance of the current government or the previous ones, they all have poorly performed on this front. There are many reasons held responsible for it, amongst which, the striking one has been our education system. We see every year hundreds and thousands of students are churned out from universities and colleges with professional degrees, but still their employment rate is very poor. These professional graduates, though eligible as per qualification, mostly are not employable as they are not industry ready. So, the question arises - Are we wasting our demographic dividend? What’s the solution to it? The answer comes in the shape of much awaited overhauling in our education system. Yes, my reference is to our New Education Policy - 2020, which is expected to bring a revolutionary change over a time period in terms of its socio-economic impact. In this research work, using the secondary sources of information, such as related published research, reports of international and national agencies, etc, an effort has been made to highlight the advantages this demographic dividend brings to India, along with its set of challenges and critically analyse, how our New Education Policy will help India in realising true potential of this much Talked about demographic dividend, before it gets too late.