India's vocational education capacity to support the anticipated economic growth

The buoyancy that the Indian economy experienced between 2000 and 2010, in spite of the global downturn of 2008, is no longer a reality. Growth projections for 2012-13 have been reassessed to 6.5 per cent. This is still higher than most other developed economies of the world (see Figure 1.1), however the growth rate is slowing. The World Bank in its recent forecasts1 expects India’s growth rates not to extend beyond 7.2 % and 7.4 % in the years 2013-14 and 2014-15, respectively. Similarly, the Planning Commission has scaled down the growth target for the 12th Five Year Plan (2012-17) from 9% to 8%. Different reports note different rates, but the consistent message is that the projection of India’s economy is on a downward trend...