In a nation like India, self employment provides an important avenue…

CBSE Economics class 12 question and answer |  “In a nation like India, self employment provides an important avenue for employment generation.” Defend or refute the given statement with valid arguments.

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 “In a nation like India, self employment provides an important avenue for employment generation.”
Defend or refute the given statement with valid arguments.

Ans.

Defend:

Self-employment indeed serves as a vital avenue for employment generation in India due to its ability to create opportunities in various sectors, especially in the informal economy. It offers flexibility, fosters entrepreneurship, and contributes to local economic development, particularly in regions where formal job opportunities are limited.