As unemployment is rampant in the country, it is very essential that retirement age of employee should be brought down to 55 years.

Elaborate your views. Ans: unemployment is the situation of an economy where the people are ready to work but sufficient jobs are not available in an economy. Now a days unemployment is very big negative challenge in an economy of a country like India. As day by day educated population are not being employed. And the GOVT has come up with the many schemes to cover up the unemployment. One of those is NREGA(National Rural Employment Guarantee Act) developed by MAHATMA GANDHI, to improve the employment situation. Eradicating is not satisfactory as the Government of India has announce the retirement age of an employee will be increased to 62 years in future. And also either side Sonia Gandhi announced that , every unemployed of the country will be compensated of Rs.200 monthly through the scheme of NREGA. As per my opinion, its better to retrench the retirement age of employed and recruit people more, so that they can reduce unemployment with extra expenditure of giving compensation to the unemployed persons. Talented people may recruit instead of people at retiring stage, and at the stage of retirement people will expect higher salary as per their experience its cost to the Government, and it can hire people with the least cost with better talented and skilled people than aged people. The government should introduce a special scheme where in a person accepting his retirement at the age of 55 would get extra benefits, this would encourage many to accept retirement. Pay reducing at the age of retirement creates good job opportunities to younger generation. Moreover any human being above 55 years of age will have low confidence, zeal and interest in his or her work hence, the output would be comparatively low. But if a youth is recruited at his/her place can definitely work much better with meager salary.