Approximately 60 percent have decided to drop the plans to buying property, cars, houses or starting a family. And nearly 40 percent exclaimed that they would happily accept a pay cut, if it adds to their job security.

This harsh reality was exposed by the latest CII survey of young Indian professionals and entrepreneurs.

Majority of experts, employers, sector specialists and even politicians are in line with this notion of the Indian youth. Echoing this sentiment, Manish Sabharwal, Chairman, TeamLease, said that, "It's a jobs emergency", reports the Economic Times.  

In the words of Praful Patel, Minister for heavy industries and Lok Sabha MP, "Every second young person in his constituency wants a job, but there are very few jobs".

Young aspiring minds who are on a look out for their first or second jobs are the worst hit, says Rajeev Chandrasekhar, Rajya Sabha MP and entrepreneur.  And in his words, "This is the most disturbing micro impact of the macro slowdown".

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