Why many Indians Want Government Job still in this Era?

Why most Indians are so much interested in investing in ‘Fixed Deposits’ which barely offer them interest rates to cover inflation, rather than investing in share market or mutual funds where they may double their money in short time?

The reasons is simple.

Indians trust banks to pay back their principle amount with interest while other investments don’t assure even the return of the principle.

Indians were highly excited after the Liberalization and Privatizations that started in 1991. They used to invest in Initial Public Offers (IPOs) and Mutual Funds in a big way. However, they got cheated of their money when these companies defrauded them. So many Indians have burned their fingers in stock market that they prefer to play safe and keep their money in banks.

Indians also tried investing in housing sectors and today millions of people have lost even their original wealth in the incomplete projects after a decade.

Most Indians have little faith in private sector companies. They know that these companies exploit them to the hilt and then throw them away when they get a better and cheaper candidate for the job.

Many private companies have closed in recent years making lakhs of employees unemployed.

Even in the recent slowdown of economy, over 350,000 workers lost their jobs in auto-sector alone since April 2019 itself.

Would you like to work for an organisation where you are not sure if you would be there next month?

However, unlike the private sectors, the jobs in government is secure.

Private sectors may close or run away, but the government is there to stay.

Once you are appointed in a government jobs, you are employed till your retirement unless you choose to quit or you are dismissed due to corruption.

You also have to work much lesser and often your salaries are much better than private sectors. For example, my official driver with 30 years of seniority used to draw more than ₹50,000 salary with all government benefits, while no one would pay even ₹15,000 salary to a private driver.

Hence, it is not surprising that most Indians still clamor for government jobs.

-Awdhesh Singh