Entrepreneurship: Solution for Socio-Economic Development

Increasing unemployment in most of the developing countries has become main hindrance behind decreasing livelihood standards and poverty. The per capita income has been decreasing rapidly and the poor are becoming poorer. Even the literates are not able to generate income as per the needs and suffering from underemployment or unemployment. There is a huge skill shortage seen in the qualified graduates as per the industry standards. India has a large population of such literate unemployed pool of labor force which is not able to economically contribute in the society and the nation. The main challenge in front of governments is how to enhance the economic empowerment in the society.