As India aims for higher growth, it not only needs a massive spurt in job creation but also more meaningful employment.
IN A COUNTRY WHERE AN ESTIMATED 1.2 crore to 1.6 crore people come into the workforce each year, jobs, or the lack of them, remain a cause for concern. With the 2019 general elections barely a year away, the discussion over how to revive a slackening pace of growth (6.6 percent in FY18 compared to 7.1 percent in FY17) is starting to get louder. India has a long way to go to touch the 9 percent growth that we saw a decade ago. However, even as the country aims for that, the need of the hour is to provide adequate employment to its growing labour force.
THE DATA CONUNDRUM
According to a report titled ‘Jobless Growth?’ released last month, the World Bank said that even to keep employment rates constant, India needs to create 8 million jobs per year. Prime Minister Narendra Modi had, during an election campaign speech in November 2013, promised to create one crore new jobs each year if voted to power. Experts say it is difficult to assess how many jobs have actually been created, considering there is no updated and comparable data from a singular agency.
The Labour Bureau’s annual household employment survey of those working in the organised and unorganised sectors of the economy showed a decline in total employment in India from 48.04 crore in 201314 to 46.76 crore in 2015-16.
This survey has now been replaced by the Labour Bureau’s quarterly employment studies. However, these take into consideration only eight sectors: Manufacturing, construction, health, trade, transport, education, IT/BPO and accommodation/ restaurants. This data reveals a rise of 1.22 lakh jobs during the period between October 2016 and January 2017 and 2.31 lakh jobs in total (in the nine months beyond April 2016), to help create a total employment of 207.53 lakh over the period, official data shows (see table).
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Home-Cooked Meal Is Now Greatly Valued
The pandemic has also brought with it an improved focus on hygiene, use of technology in dining, rise of cloud kitchens and resurgence in popularity of Indian ingredients
Paytm 3.0 - Reaching Near Breakeven In Two Years
As of 2020, Vijay Shekhar Sharma’s super app for financial services had run up losses in thousands of crores. Now, as digital payments gets yet another boost courtesy Covid-19, he’s hopeful of reaching near breakeven in two years
THE PANDEMIC HAS CAUSED WOMEN GREATER LABOUR PAIN
Covid-19 has shown that women are more likely to face the brunt of job losses than men, and find fewer opportunities when they want to resume. That apart, several have to deal with increased hours of unpaid work at home and even domestic abuse
LEADERSHIP WILL BE ABOUT SEEING THE BIGGER PICTURE
Leaders must not only guard their teams first during a crisis, but also deal with stakeholders with respect and dignity. And apart from pursuing business goals, they should remain committed to our planet and the environment
PHILANTHROPY SHOULD BE HUMBLE, BUT NOT MODEST
Apart from building a flexible and resilient framework for the future, philanthropists, civil society and the government must work in tandem so that every rupee is absorbed on the ground
INTEGRATED HEALTH CARE, TECH WILL DISRUPT SECTOR
While clinical research will get a boost, having a skilled workforce and public spending on health care will be challenges in the near term
DIGITALISATION WILL HELP IN VALUE CREATION
As the pandemic brings technology and innovation to the core of business and daily life, the next decade will see about 150 million digital-first families in India
Industry 4.0: Climate Revolution?
Augmenting sustainability alongside digital capabilities is an economic, competitive and global opportunity for India’s businesses, but regulations need to reflect intent
EV Dream Still Miles Away
Electric vehicles have remained a buzzword in India for years. But not much has moved on ground due to high upfront costs, range anxiety and charging infrastructure
Living Waters
A virus has caused us to scramble for oxygen but our chokehold on the environment is slowly strangling the very waters that breathe life into us. The virus is a timely reminder: We are merely consumers, not producers of life’s breath on this planet
