Has economic growth in India been jobless?
6 years, 1 month ago

Has economic growth in India been jobless?

Live Mint  

New Delhi: With the election season upon us, the discourse has already shifted to jobs. According to the World Bank, this is both an unfair and fair criticism: Economic growth has created jobs but just not enough or of the right quality. In a report published earlier this year, as part of its South Asia Economic Focus series, the World Bank extracted data from more than 60 surveys and censuses since 2001 to document job creation in India. It shows that in 2015, India’s employment rate was around 50% and this rate has increased with economic growth, dispelling the notion of jobless growth. To catch up with these countries, India would need to create 13.5 million jobs a year—significantly higher than the current job creation rate and requiring an unfeasible 18% gross domestic product growth rate.

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History of this topic

Stagnant wages amid fast economic growth: We need an Indian Enlightenment
2 days, 16 hours ago

Stagnant wages amid fast economic growth: We need an Indian Enlightenment

Live Mint  

India’s economic growth story has been impressive. Wage stagnation amid rising inflation: The disparity between India’s economic growth and stagnant wages is stark. Chief economic advisor V. Anantha Nageswaran warns that low wages could stifle India’s long-term potential by weakening consumer demand and the quality of life for millions. This is not the template for a ‘Viksit Bharat.’ The paradox …

Decoding India’s growth slowdown
Trending News
4 days, 22 hours ago

Decoding India’s growth slowdown

The Hindu  

The first advance estimates of India’s Gross Domestic Product in 2024-25, released by the National Statistics Office this week, shows a decline in the real GDP growth rate to 6.4% from 8.2% registered in 2023-24. The annual growth rates of real gross fixed capital formation in public and private sectors During the 10 years of the United Progressive Alliance rule, …

India's small businesses drive jobs growth, wage gains curbed by inflation
3 weeks ago

India's small businesses drive jobs growth, wage gains curbed by inflation

The Hindu  

India's small businesses spanning the manufacturing, trade and services sectors added about 11 million jobs in the year to the end of September, with total employment rising to 120.6 million from 109.6 million the previous year, though wage growth was limited by high inflation. The number of small manufacturing businesses, mainly family- owned units such as garment makers, auto component …

Will India's economic growth pick up pace? Nirmala Sitharaman answers
4 weeks, 1 day ago

Will India's economic growth pick up pace? Nirmala Sitharaman answers

India Today  

Finance Minister Nirmala Sitharaman on Tuesday said that India’s economy will see healthy growth in the coming quarters despite the lower-than-expected GDP numbers for the second quarter. India’s GDP growth for the July-September quarter fell sharply to 5.4% from 6.7% in the previous quarter, marking an 18-month low, as per data released by the National Statistics Office in November. However, …

Corporates in India see 4x profit but keep salaries stagnant: Report
1 month ago

Corporates in India see 4x profit but keep salaries stagnant: Report

India Today  

Corporate profits have grown four times in the last four years, but real wages haven't grown, according to a report. This comes even as India's economic growth, measured in terms of GDP, dipped to 5.4% in the September quarter. A report in The Indian Express on Thursday highlighted how wages saw negative growth even as India Inc's profits grew. The …

‘Indian economy cannot progress as long as…’: Rahul Gandhi hits out at Centre
Trending News
1 month, 1 week ago

‘Indian economy cannot progress as long as…’: Rahul Gandhi hits out at Centre

Hindustan Times  

Leader of Opposition in the Lok Sabha, Rahul Gandhi on Sunday said that the India's Gross Domestic Product growth rate has fallen to its lowest in two years at 5.4 percent. Rahul Gandhi on Sunday said India's GDP growth has dropped to 5.4 percent, the lowest in two years. The thing is clear - the Indian economy cannot progress as …

India Q2 GDP: Economy grows 5.4% in July-Sept, a 7-quarter low
1 month, 2 weeks ago

India Q2 GDP: Economy grows 5.4% in July-Sept, a 7-quarter low

Firstpost  

Government data released on Friday showed that India’s economic growth slowed down to 5.4 per cent in July-September 2024 compared to 8.1 per cent in year-ago quarter India's GDP for the second quarter of the fiscal year 2024 slowed down to 5.4 per cent. File image Government data released on Friday showed that India’s economic growth slowed down to 5.4 …

India’s GDP growth: The first half faltered, but economy seen rebounding in the second
Trending News
1 month, 2 weeks ago

India’s GDP growth: The first half faltered, but economy seen rebounding in the second

Live Mint  

Two consecutive quarters of disappointing economic growth have left economists pinning their hopes on a rebound in the second half of the fiscal year. Some economists, however, expect India’s FY25 GDP growth to be lower than the Reserve Bank of India’s 7.2% outlook because of the disappointing economic growth in the first two quarters of the fiscal year. “Government will …

IMF Sees India's Economic Growth and Outlook as Stable
2 months, 3 weeks ago

IMF Sees India's Economic Growth and Outlook as Stable

New Indian Express  

India remains the world's fastest-growing economy, with inflation expected to decline to 4.4% in FY24-25. IMF Director Krishna Srinivasan highlights the country's strong macroeconomic fundamentals, including a large and growing population, favourable harvests, and a stable fiscal situation. Srinivasan suggests that the country focus on creating jobs, removing trade restrictions, and investing in infrastructure and education to strengthen its economy …

Lack of industries in Bihar push youth to vie for government jobs
4 months, 3 weeks ago

Lack of industries in Bihar push youth to vie for government jobs

The Hindu  

“Karo to sarkari naukari, nahi to becho tarkari”, says Ranjeet Kumar, an unemployed youth, who, along with two female companions, spend three hours at a community park in Rajendra Nagar in Patna every evening to prepare for government jobs. “Here in the park, there is a peaceful atmosphere to hold group discussions, which help us prepare better for the job,” …

Were eight crore new jobs created in three years?
4 months, 3 weeks ago

Were eight crore new jobs created in three years?

The Hindu  

Employment, or the lack of it, has been a major issue of debate among economists and policy makers in India in recent years. Tailing this claim, the research team of the State Bank of India published a validating report that claimed a match between the total number of workers in the India-KLEMS database and in the NSSO’s Annual Survey of …

Job Creation Seems Better Than Before but What About Quality and Sustainability?
5 months, 1 week ago

Job Creation Seems Better Than Before but What About Quality and Sustainability?

The Quint  

India's job market landscape presents a complex narrative, characterised by both positive indicators and underlying anxieties. The Reserve Bank of India recently published 'Measuring Productivity at the Industry Level-The India KLEMS Database,' providing data on employment trends across 27 key industries in India. The database, spanning FY 1980-81 to 2022-23 aims to provide critical data points on economic output, worker …

Concern over ‘unscientific projection’ of GDP rate as nation’s prime growth indicator
5 months, 2 weeks ago

Concern over ‘unscientific projection’ of GDP rate as nation’s prime growth indicator

The Hindu  

A talk on ‘Tall claims and bleak realities - features of the contemporary Indian economy’ by Kerala State Planning Board member R. Ramkumar on July 26 expressed concern over the unscientific projection of gross domestic product rates as the nation’s prime growth indicator when the per capita Income was continuing at a very low rate. Presenting his view points at …

India’s Modi focuses on jobs creation in first budget after winning polls
5 months, 3 weeks ago

India’s Modi focuses on jobs creation in first budget after winning polls

Associated Press  

NEW DELHI — Indian Prime Minister Narendra Modi’s newly formed government presented an annual budget to Parliament that raises spending to generate more jobs and spur economic growth, while aiming to appease coalition partners it needs to stay in power. Modi said the budget will lead India toward “better growth and a bright future.” “Today’s budget will act as a …

India Needs to Create 78.51 Lakh Jobs in Non-Farm Sector: Survey
5 months, 3 weeks ago

India Needs to Create 78.51 Lakh Jobs in Non-Farm Sector: Survey

Deccan Chronicle  

New Delhi: The government on Monday asserted that the Indian economy needs to generate around 78.51 lakh jobs annually in the non-farm sector to meet growing demand and population growth. “The Indian economy needs to generate an average of nearly 78.5 lakh jobs annually until 2030 in the non-farm sector to cater to the rising workforce,” said the survey. “Casual …

Economic Survey 2023-24: Only 51% graduates employable
5 months, 3 weeks ago

Economic Survey 2023-24: Only 51% graduates employable

The Hindu  

According to the Economic Survey 2023-24, 65% of India’s fast-growing population is under the age of 35, and many lack the skills needed by a modern economy. The 2022-23 Annual Report of the Ministry of Skill Development & Entrepreneurship notes, “as per National Single SignOn, 2011-12 report on Status of Education and Vocational Training in India, among persons of age …

Jobs Creation, Agri Push, Skill Development, MSME Support: Govt Unveils Key Policy Focus Areas
5 months, 3 weeks ago

Jobs Creation, Agri Push, Skill Development, MSME Support: Govt Unveils Key Policy Focus Areas

News 18  

Finance Minister Nirmala Sitharaman on Monday tabled the Economic Survey 2023-24 in Parliament, setting the stage for the Union Budget 2024-25. Skill Gap Challenge The Economic Survey 2023-24 said 65 per cent of India’s fast-growing population is under 35, and many lack the skills needed by a modern economy. In India, the government has been paying focused attention to enabling …

Economic Survey 2024 key highlights: FY25 growth forecast, inflation outlook and more
5 months, 3 weeks ago

Economic Survey 2024 key highlights: FY25 growth forecast, inflation outlook and more

India Today  

Finance Minister Nirmala Sitharman on Monday tabled the Economic Survey 2023-24, which highlighted that the Indian economy is “on a strong wicket and stable footing”. Here are some of the key takeaways from the Economic Survey 2023-24: Indian economy on 'strong wicket' The Economic Survey highlighted that the economy is growing strongly, demonstrating resilience despite challenges. Inflation under control, private …

In search of jobs: On the challenge of employment generation
5 months, 4 weeks ago

In search of jobs: On the challenge of employment generation

The Hindu  

Employment generation will remain a major challenge before the Narendra Modi government in its third term, and the upcoming Union Budget is expected to take note of it. The ILO’s India Employment Report had also warned that the share of manufacturing employment was stagnant, at around 12%-14% and the slow transition of jobs from agriculture to non agriculture reversed due …

Centre questions Citigroup’s report on employment in India
6 months ago

Centre questions Citigroup’s report on employment in India

The Hindu  

The Union Labour Ministry questioned the findings of a report prepared by the United States-based banking giant Citigroup and said the group failed to account for the “comprehensive and positive employment data” available from official sources such as the Periodic Labour Force Survey and the Reserve Bank of India’s capital, labour, energy, material and services data. The Citigroup’s report had …

Labour ministry rebuts Citigroup's research report on employment in India
6 months, 1 week ago

Labour ministry rebuts Citigroup's research report on employment in India

New Indian Express  

NEW DELHI: The labour ministry on Monday rebutted a recent report by Citigroup which forecast that India will struggle to create sufficient employment opportunities even with a 7 per cent growth rate. The ministry in a statement said the report "fails to account for the comprehensive and positive employment data available from official sources such as Periodic Labour Force Survey …

India won't be able to create enough jobs over next decade even if economy grows 7%: Citigroup
6 months, 1 week ago

India won't be able to create enough jobs over next decade even if economy grows 7%: Citigroup

Hindustan Times  

India will struggle to create enough jobs for its growing workforce over the next decade even if the economy grows at a rapid pace of 7%, Citigroup Inc. said, suggesting the world’s most-populous nation will need more concerted steps to boost employment and skills. India will struggle to create enough jobs for its growing workforce over the next decade even …

India’s silent youth crisis: College-educated but poorer than a farm hand
8 months ago

India’s silent youth crisis: College-educated but poorer than a farm hand

Al Jazeera  

Two-thirds of India’s unemployed youth are educated — a fraction which has doubled since 2000. “My friends keep mocking me, saying even uneducated workers at corner shops earn more than I do,” Sawale says. “They are educated but have to toil just like we do.” A degree in vain Nearly 100km away, in Ralegaon town, this reality defines 27-year-old Sidhant …

Has the growth of India’s economy translated into domestic jobs?
9 months ago

Has the growth of India’s economy translated into domestic jobs?

Live Mint  

Recently, two international organizations published their assessment of India’s labour market and employment situation. Over the 42 years between 1980-81 and 2021-22, non-farm employment in India grew at a compounded average annual growth rate of 3.16%. As stated in its report, the concern of the World Bank is that the employment ratio in South Asian economies, including India, has declined …

How to create more jobs for India’s educated youth | In Focus podcast
9 months, 1 week ago

How to create more jobs for India’s educated youth | In Focus podcast

The Hindu  

The India Employment Report 2024, released recently by the International Labour Organisation, paints a grim picture. The news is particularly bad on two critical counts: joblessness is particularly high among the youth, and its worse for the educated youth. According to the report, India’s youth account for 83% of the unemployed workforce, with the share of the educated youth among …

There is no discord over India’s growth and employment trends
10 months, 4 weeks ago

There is no discord over India’s growth and employment trends

Live Mint  

Coming to manufacturing, between 1998-99 and 2003-04, employment growth was 7.3 million. There is a clear slowdown in manufacturing employment growth between 2008-09 and 2013-14. So, it stands to reason that the decline in agricultural employment, which was of the order of 17.8 million, was absorbed by services and other sectors, given that the economy as a whole added 13.1 …

Growth mania can be injurious to society
11 months, 2 weeks ago

Growth mania can be injurious to society

The Hindu  

The nation’s media, present in full force at the annual conference of the World Economic Forum, dutifully relayed back to India sound bytes uttered by the allies of the world’s giant corporations. Rural wage rates A simple exercise would cast light on how unequal recent growth in India has been. Even for the section of the rural workforce for which …

What job data says about the economy
1 year ago

What job data says about the economy

Hindustan Times  

The decade beginning in 2000 was one of the best as far as the Indian economy’s growth prospects were concerned. PREMIUM New Delhi, India - Feb. 16, 2018: Candidates apply for jobs at 'Job Fair' organized by Directorate of Employment, Delhi Government at Tyagraj Sports Complex in New Delhi, India, on Friday, February 16, 2018. However, headline employment numbers from …

India’s jobs crisis, the macroeconomic reasons
1 year ago

India’s jobs crisis, the macroeconomic reasons

The Hindu  

There are many indications everywhere that India continues to be going through a jobs crisis. Employment growth rate is determined by the relative strength of two factors — the output growth rate and the labour productivity growth rate. If labour productivity growth rate does not change, higher output growth rate increases employment growth rate. On the other hand, if labour …

Book Excerpt | India's growth story diverges from the pan-Asian narrative
1 year ago

Book Excerpt | India's growth story diverges from the pan-Asian narrative

Deccan Chronicle  

Asian export-led growth accelerated the typical shift in labour between sectors, but the transformation was similar to the one that rich countries had already gone through. Thus, the manufacturing share of employment in an economy as a function of its income per person first increases as workers move from agriculture to manufacturing, then decreases as they move from manufacturing to …

Hiring in India: 37% employers planning to increase staff strength by 2024 March
1 year, 1 month ago

Hiring in India: 37% employers planning to increase staff strength by 2024 March

Live Mint  

India has one of the strongest hiring sentiments in the world over the next three months, with 37 percent of businesses planning to increase their staff levels in response to strong domestic demand, a report has stated. As per the survey, India and the Netherlands reported strongest net employment outlooks at 37 percent, followed by Costa Rica and the US …

Bharat’s Model of Economic Growth Cannot Be Built on Western Models - News18
1 year, 2 months ago

Bharat’s Model of Economic Growth Cannot Be Built on Western Models - News18

News 18  

Policymaking in the agriculture space is rife with several myths, misconceptions, and assumptions. A NITI Aayog paper from 2022 highlights four structural paths that farmers could find themselves on: the Farmer Developing Path, the Lewis Path, the Lewis Trap, and the Farmer Excluding Path. The Indian agricultural sector employs 44 per cent of the labour force in the country while …

Unemployment rate in India is at its lowest level in six years: PM Modi
1 year, 3 months ago

Unemployment rate in India is at its lowest level in six years: PM Modi

The Hindu  

Prime Minister Narendra Modi on October 12 said India's expanding economy is creating new possibilities for the youth and the unemployment rate in the country is at its lowest level in the last six years. In a video message to the Kaushal Deekshant Samaroh of the Ministry of Skill Development and Entrepreneurship, the prime minister noted that new possibilities are …

Indian economic prospects may require a more realistic analysis
1 year, 4 months ago

Indian economic prospects may require a more realistic analysis

Live Mint  

The chaos and cacophony of bazaars have a life-affirming quality. Walking through a Delhi bazaar last week, chatting with friendly shopkeepers and roadside merchants and revelling in the warm glow of traditional India, it was impossible not to feel optimistic about the country’s prospects. Recall that, in 2020-21, India’s economy, still recovering from an unwarranted demonetization, contracted by 7% as …

India shows an impressive 7.8% economic growth in April-June quarter
1 year, 4 months ago

India shows an impressive 7.8% economic growth in April-June quarter

Associated Press  

NEW DELHI — India’s economy registered impressive growth of 7.8% in the first quarter of the current financial year, attributed to good performance by the agriculture and financial sectors, according to official data released on Thursday. India’s agriculture sector recorded growth of 3.5% in three months, up from 2.4% in the April-June quarter last year, according to the data released …

Jobs for the young must be a key policy priority
1 year, 7 months ago

Jobs for the young must be a key policy priority

Hindustan Times  

Economic data published this week turned my attention to economics, economies, and the numbers or statistics that make up the raw material that economists study. But he found that mathematical calculations very often produced wrong results, so preferring to be, as he put it, roughly right rather than absolutely wrong, he joined the World Bank, There, he held senior positions …

India’s economy picks up speed amid global slowdown
1 year, 7 months ago

India’s economy picks up speed amid global slowdown

Al Jazeera  

With 6.1% quarterly growth, India remains one of the fastest growing emerging economies, especially as China’s recovery stumbles. India’s economic growth has accelerated to 6.1 percent in the January–to-March quarter, boosted by government and private capital spending even as private consumption remained sluggish, government data shows. The manufacturing sector, which for the past decade has accounted for just 17 percent …

Tapping advantages of population structure
1 year, 9 months ago

Tapping advantages of population structure

China Daily  

A nurse takes care of a newborn baby at Gansu Provincial Maternity and Childcare Hospital in Lanzhou. India's large population is set to boost its international standing, especially as it is already the world's fifth-largest economy and the fastest growing major economy. Although India has a young and dynamic population with high fertility potential, farmers make up more than 70 …

India’s post-pandemic potential growth could be pushed higher
1 year, 9 months ago

India’s post-pandemic potential growth could be pushed higher

Live Mint  

Three years have now passed since the pandemic brought the world to a standstill. The World Bank has this week released a large database with estimates of potential growth over the years for various countries. First, the World Bank estimates Indian potential growth at 7% a year. Second, Indian potential growth is higher than that of most emerging economies it …

India's GDP Growth: Economists Must Not Go by Face Value & Assess Data Robustly
1 year, 10 months ago

India's GDP Growth: Economists Must Not Go by Face Value & Assess Data Robustly

The Quint  

As argued before, while reviewing the macro-elements and components of growth in any statistical interpretation exercise, it’s difficult to get the full picture one needs. For example, keeping aside the base effect, the fact that private consumption demand is still woefully low, indicates how much of the low-middle income and middle-income class in India is ‘consuming less’ and their demand …

India has done well last year but lags many other nations, says former Chief Economic Adviser Kaushik Basu
1 year, 11 months ago

India has done well last year but lags many other nations, says former Chief Economic Adviser Kaushik Basu

The Hindu  

The erosion of India’s institutions is a worry and India’s leaders should tackle this problem on an urgent basis, said Kaushik Basu, a professor of economics at Cornell University. In an interview with The Hindu in the lead-up to Union Budget, the former chief economic advisor to the Government of India, talked about the state of the Indian economy, the …

Indian GDP to grow 5.8%: UN
1 year, 11 months ago

Indian GDP to grow 5.8%: UN

Deccan Chronicle  

Chennai: As higher interest rates and a global slowdown weigh in on investment and exports, India is expected to grow at 5.8 per cent in 2023 and 6.7 per cent in 2024. Similarly, in South Asia, the economic outlook has significantly deteriorated due to high food and energy prices, monetary tightening and fiscal vulnerabilities and average GDP growth is projected …

Year in Review | Indian economy amid global headwinds
2 years ago

Year in Review | Indian economy amid global headwinds

The Hindu  

Multiple headwinds at varied points of time impacted the Indian economy’s thorough economic revival in the calendar year 2022. “India’s growth rates in real terms of 9.7% in the first half of this year is well above the trend in other countries and is happening amid tightening global financial conditions and the commodity price shock since the Ukraine invasion by …

Charting the economic journey ahead
2 years, 1 month ago

Charting the economic journey ahead

The Hindu  

The big question before India is where its economy will be 25 years from now. According to one estimate, during the five decades, India’s annual growth rate was just 0.89%. Early strategy In the early period, India’s strategy of development comprised four elements — raising the savings and investment rate; dominance of state intervention; import substitution, and domestic manufacture of …

The truth about ‘the India story’
2 years, 2 months ago

The truth about ‘the India story’

The Hindu  

As the COVID-19 pandemic fades and hopes rise for nations and societies to return to some kind of normalcy, there is effort all around to take stock of where we stand and what our prospects look like. In fact, from 2003 to 2011, barring one year, the start of the Great Recession in 2008-09, India was on top of most …

Our love of government jobs isn’t good for the economy
2 years, 2 months ago

Our love of government jobs isn’t good for the economy

Live Mint  

Last week, pictures and videos of youth travelling through the north Indian state of Uttar Pradesh to write the exam for the Uttar Pradesh Preliminary Eligibility Test went viral. The report pointed out: “According to the study the total emoluments of a General Helper, who is the lowest ranked employee in the government is ₹22,579, more than two times the …

Poverty, unemployment are demons in today’s world: RSS
2 years, 3 months ago

Poverty, unemployment are demons in today’s world: RSS

The Hindu  

Poverty and unemployment are demons in today’s world, said general secretary of Rashtriya Swayamsevak Sangh Dattatreya Hosabale on Sunday. Unemployment rate is also very distressing as the current rate is 7.6%,” said Mr. Hosabale who also quoted a United Nations Human Development Index report. Livelihood is also a big problem as per the UN report which also stated that conflicts …

India’s unemployment rate plunges to 7.6% in April-June 2022: NSO survey
2 years, 4 months ago

India’s unemployment rate plunges to 7.6% in April-June 2022: NSO survey

Live Mint  

The unemployment rate in India for people aged 15 years and above in urban areas declined to 7.6 per cent during April-June 2022 from 12.6 per cent a year ago, the National Statistical Office said on 31 August. In January-March 2022, the unemployment rate in India for persons aged 15 years and above was 8.2 per cent in urban areas, …

The inequality challenge for India@75
2 years, 5 months ago

The inequality challenge for India@75

Live Mint  

During the period 1950-51 to 2019-20, for which evidence is available, in real terms, growth in GDP was 4.9% per annum while growth in GDP per capita was 2.9% per annum. This provides a sharp contrast with the period 1900-01 to 1946-47 during the colonial era, when national income growth was 1% per annum and per capita income growth was …

At 6.80%, unemployment rate in India lowest in 6 months: Report
2 years, 5 months ago

At 6.80%, unemployment rate in India lowest in 6 months: Report

Hindustan Times  

The overall unemployment rate eased to 6.80% in July, a 1 per cent decline compared to June, the lowest since 6.56% in January, Centre for Monitoring Indian Economy, a private organisation reported on Monday. In rural India, the unemployment rate fell to 6.14% in July against 8.03% in the previous month. The data for urban areas suggests that unemployment rose …

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