It won’t be an exaggeration to say that the Jantar Mantar protest led by the Cockroach Janta Party (CJP) is by far the most formidable challenge this government has faced in its 12 years of rule. While it was the issue of repeated paper leaks which pushed the people over the brink, the disillusionment runs far deeper among young Indians. And there is a material basis for this disillusionment. Unfortunately, neither the defiant resignation letter of the Minister nor the rousing welcome he got in the Parliament after the resignation gives the impression that the government has heard the voice of its own youth with any humility.The question, then, is: why did the agitation catch the imagination of the youth?A lost demographic advantageLet us start with what is called a demographic dividend. India currently has the youngest population in the world. Chart 1 shows a rising share of people in the working age bracket (15-64 years) out of the total population — a potential demographic dividend. We are calling it potential because its mere existence does not guarantee its realisation. If the unemployment rates, especially among those entering the labour market, remain high, we are essentially frittering the youth dividend away.