Self-Employment in India- Prevalence, Pros, Cons & Challenges
From Current Affairs Notes for UPSC » Editorials & In-depths » This topic
India has set several goals to be achieved by 2047- marking 100 years of Independence. In achieving this goal, the private sector will have a significant strategic role. In the overall private sector, an especially crucial role has been envisaged for the MSME. To realize the potential of MSMEs and entrepreneurship, a clear perception of their present and potential role is vital.
What are the pros of self-employment?
- Creates jobs
- Increases the number of businesses in an area, thus stimulating economic growth
- Increased flexibility in the kind of products and services offered by these businesses
- Higher competition leads to better quality of goods and services
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