There are ways to tackle the crisis but here is one out of the box. It is FIRE: Financial Independence, Retire Early. FIRE is a global movement involving people trying to get financial independence sooner, so they can retire early.
They earn and save aggressively initially and after building a corpus they largely live on their saved money and assets. The movement is also catching up in India. If this movement crosses a threshold, it will create vacancies faster and financially independent retired people will boost the economy by continuously generating demand.
Lower taxes on earnings and savings, lower inflation, and general security may greatly strengthen the FIRE movement and naturally, there would be more jobs for younger people.
Niraj Kumar Jha
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