Self-Employment is a powerful medium to develop the economy in the world’s second most populated country, India, having huge manpower. The main problems of a developing country are poverty, unemployment, starvation, low living standard and illiteracy, which can be controlled through the powerful means of self employment.
The importance of self-employment is –
- Unemployment is reduced.
- The economic development of the country speeds up.
- Better utilization of natural resources is done.
- Economic power is decentralized in the country.
- Large scale industries are provided assistance.
- The path of development of basic facilities is strengthened.
- Infrastructure is developed.
- Managerial ability and capability are enhanced.
- Provides means of income for weaker sections of society.
- Rural areas and villages undergo development.
- Poverty is reduced.
- The dream of a self-reliant society is realized.
