When the next government takes over, it will have to attend to multiple challenges. Before we discuss those, however, we need to talk about an overarching challenge that is at the heart of any discussion involving India’s future – employment generation.

If the economy produces the kinds of decent jobs that Indian youth are struggling to find right now, the ramifications will be massive and positive. India could end extreme poverty, reduce inequality and achieve upper-middle-income country status. The table below provides the World Bank’s income classification. India’s gross national income (GNI) per capita in 2017 was US$1820. There is quite a distance to travel and other countries won’t be sitting still. Even so, some researchers predict that by 2030, India could eliminate extreme poverty. Reaching upper-middle-income status also appears to be a distinct possibility. Clearly, there is a lot at stake.

. . .