India needs land, labour reform to aid manufacturing: Krishnamurthy Subramanian
5 years, 10 months ago

India needs land, labour reform to aid manufacturing: Krishnamurthy Subramanian

Live Mint  

New Delhi: India's next government will have to bring in land, labour and financial sector reforms to improve the productivity of the manufacturing sector and boost economic growth, India's chief economic adviser said. Several business leaders said a delay in land acquisition for private factories, decades-old restrictive labour laws and higher borrowing costs discourage many investors who therefore prefer to build new plants in countries like Vietnam, Thailand, and Bangladesh. But brushing aside concerns about an economic slowdown, Subramanian said the present government's economic reforms have contributed to an average annual growth rate of 7.3% over the past five years. Land costs have more than doubled over the past five years, and hiring costs have gone up significantly, hitting labour intensive sectors like textile, leather and gems and jewellery, business leaders said.

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History of this topic

‘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 …

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 …

Government choices and policies have taken India's economy to new height: PM Modi
1 year, 1 month ago

Government choices and policies have taken India's economy to new height: PM Modi

Firstpost  

Modi said that their biggest priority should be people’s ease of living, and took a swipe at past governments saying they ignored the equality envisaged by B R Ambedkar, the key figure behind the Constitution, among all citizens Prime Minister Narendra Modi on Thursday said his government’s policies and decisions have taken the economy to a new height, creating immense …

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 …

Labour and its discontents
1 year, 3 months ago

Labour and its discontents

Hindustan Times  

There is a widespread consensus that employment generation is India’s central economic challenge. At one level, it can be argued that failure to reduce the employment share of agriculture is India’s biggest labour market challenge. At another, it can also be argued that the quality of non-agricultural jobs, caste-based inequalities in labour markets and a big gender gap in employment …

Budget 2023: What the social sector wants from Finance Minister Nirmala Sitharaman
1 year, 11 months ago

Budget 2023: What the social sector wants from Finance Minister Nirmala Sitharaman

India TV News  

Budget 2023: The Indian economy is on a slow path to recovery as the COVID-19 crisis has more or less subsided. 35,000 crores • Revitalizing water harvesting structures by excavating existing lakes and tanks @ Rs. 5000 crores • Enhancing MGNREGA allocation to Rs 200,000 crores to meet all the wage employment requirements, which in turn can build large-scale livelihood …

The Unrecognised Urban Farmers of Delhi Are Caught in Conflict Over Land
2 years ago

The Unrecognised Urban Farmers of Delhi Are Caught in Conflict Over Land

The Quint  

“The agricultural activity is continuously declining in Delhi to rapid urbanisation and growth in other economic activities of trade and industry. “Farmers in Delhi villages have been exploited, and land ownership has decreased over the years,” says Tyagi adding that more than 97% of farmers own less than 0.5 hectares of land. There are no financial incentives or subsidy support …

Indian manufacturing sector and the great transformation under Narendra Modi
2 years ago

Indian manufacturing sector and the great transformation under Narendra Modi

Firstpost  

With the vision of transforming India into a manufacturing hub, our government under the leadership of Prime Minister Narendra Modi took concrete steps towards improving various business parameters In 2014, when Prime Minister Narendra Modi took the reins of our nation, India had been tagged as one of the so-called “Fragile Five” nations alongside Indonesia, Brazil, Turkey, and South Africa, …

At 75, India seeks way forward in big but job-scarce economy
2 years, 5 months ago

At 75, India seeks way forward in big but job-scarce economy

Associated Press  

NEW DELHI — As India’s economy grew, the hum of factories turned the sleepy, dusty village of Manesar into a booming industrial hub, cranking out everything from cars and sinks to smartphones and tablets. If I live like this, how will my children live any better?” Entire families leave their homes in India’s vast rural hinterlands to camp at such …

PM Modi Says Farm Sector Needs Post-harvest Revolution; Govt Impetus on Scientific Ecosystem
3 years, 6 months ago

PM Modi Says Farm Sector Needs Post-harvest Revolution; Govt Impetus on Scientific Ecosystem

News 18  

Prime Minister Narendra Modi on Monday said there is a need for a “post-harvest revolution” in the farm sector, which has been witnessing an increase in production. “With the ever increasing agricultural production, there is a need of post-harvest revolution and value addition,” Modi said in a message to commemorate the National Bank for Agriculture and Rural Development’s foundation day, …

In agri-reforms, go back to the drawing board
4 years ago

In agri-reforms, go back to the drawing board

The Hindu  

The purpose of agriculture reforms is to increase farmers’ incomes. The problem of low incomes in India’s agriculture sector is a complex systems problem which cannot be solved by agriculture experts alone. Economists point, wistfully, to the firmness with which bold reforms were brought about in 1991, and how the government stood up to the ‘Bombay Club’ of industrialists who …

Lack of reforms hurting India, democracy making reforms difficult: BJP spokesperson
4 years, 1 month ago

Lack of reforms hurting India, democracy making reforms difficult: BJP spokesperson

The Hindu  

BJP’s national spokesperson on economic affairs Gopal Krishna Agarwal on Wednesday said the lack of critical reforms after 1991 has made Indian industry unfit to compete globally for now and appeared to back the NITI Aayog CEO’s comments on democracy making reforms difficult. Citing the resistance to the government’s farm sector reforms, Mr. Agarwal said that everybody agrees that the …

Budget 2020: Govt must give priority to agriculture, empower farm sector to revive economy; don't hand out doles and sops
4 years, 11 months ago

Budget 2020: Govt must give priority to agriculture, empower farm sector to revive economy; don't hand out doles and sops

Firstpost  

In Budget 2020, it is fervently hoped that the government will focus on genuinely empowering the farm sector. For instance, while the average farmer gets only Rs 711 a month from livestock rearing, farmers in Gujarat and Tamil Nadu and other progressive states get around Rs 100 per milch cattle per day for 300 days a year. Except in the …

Union Budget 2020-21: Corporate India pitches for job creation, higher infra spending, policies for agricultural sector
5 years ago

Union Budget 2020-21: Corporate India pitches for job creation, higher infra spending, policies for agricultural sector

Firstpost  

Corporate leaders on Monday sought initiatives to support job creation besides enhanced spending on infrastructure and policies for the agricultural sector as part of their Budget wishlist New Delhi: Corporate leaders on Monday sought initiatives to support job creation besides enhanced spending on infrastructure and policies for the agricultural sector as part of their Budget wishlist. While participating in a …

Work undone: How India fails its young job seekers
5 years, 7 months ago

Work undone: How India fails its young job seekers

Al Jazeera  

As India goes to polls, Al Jazeera looks at its intensifying unemployment crisis and the politics that surround it. But just today an interviewer told me I’m too qualified,” said the 24-year-old, who is a Dalit – one of the former “untouchable” caste who still face segregation and social exclusion in India. The politics of unemployment In India’s ongoing national …

Falling incomes
5 years, 9 months ago

Falling incomes

The Hindu  

THE north-western plains of Uttar Pradesh, covering Meerut, Baghpat, Bulandshahr, Muzaffarnagar, Rampur and Saharanpur, boast the highest land productivity in the State. The Modi-Yogi Adityanath combine has spelt disaster for the farmers of Uttar Pradesh, according to the farmer Rambeer Singh of Mawana tehsil in Meerut district. How will a farmer survive?” Farmers across Uttar Pradesh have been protesting outside …

Land, labour, financial sector reforms needed to improve manufacturing, boost economic growth, says Chief Economic Adviser
5 years, 10 months ago

Land, labour, financial sector reforms needed to improve manufacturing, boost economic growth, says Chief Economic Adviser

Firstpost  

The share of manufacturing in the economy has grown just 1.5 percentage points in the last three years to 18 percent, and good exports have shown little sign of a pick up in the last five years. New Delhi: The next government will have to bring in land, labor and financial sector reforms to improve the productivity of the manufacturing …

Farm sector doles: Band-aid solutions hide jobless growth; India's agrarian economy needs liberalisation, not govt handouts
5 years, 10 months ago

Farm sector doles: Band-aid solutions hide jobless growth; India's agrarian economy needs liberalisation, not govt handouts

Firstpost  

Instead of addressing the dwindling jobs and agrarian crisis, the government has responded by announcing a Targeted Basic Income scheme for farmers. In spite of its huge budgetary allocation Rs 75,000 crore per year, which exceeds National Rural Employment Guarantee Scheme budget, it offers very little purchasing capacity to individuals, let alone potential to create sizable jobs. It is in …

How Nehru led to agrarian distress and what could be the way forward for inclusive growth
5 years, 11 months ago

How Nehru led to agrarian distress and what could be the way forward for inclusive growth

Op India  

Historical backdrop and policy impact: In 1947 when Prime Minister Jawaharlal Nehru took over reins of Independent India, deeply influenced by Marxist-Leninist socialism, he strived to achieve India’s prosperity by creating mammoth public sector enterprises that were engaged in manufacturing steel to running forcibly nationalised airlines. Moreover, other priority areas like primary education, health provisioning, family welfare, and even rural …

It’s a great leap backward on the employment front in India’s rural areas
5 years, 11 months ago

It’s a great leap backward on the employment front in India’s rural areas

Live Mint  

Shiv Prasad has a plan—one that he feels can change his destiny. “The problem is that we, being part of the government, cannot acknowledge that demonetization seriously disrupted the flow of activity and massively contributed to employment-related problems.” A visit to a government-run industrial training institute in Banda, nestled inside a village named Motihari, is testimony to the utter lack …

Modi government’s much needed focus on India’s farm sector
5 years, 11 months ago

Modi government’s much needed focus on India’s farm sector

Op India  

India’s farm sector has witnessed a systematic decline since the 1991 reforms as its importance in GDP has declined rapidly while its importance as India’s largest employer continued. It is not just provisioning of formal credit that saw the governments concentrated focus as the government through its experience in first two years realized that droughts have a significant and long-term …

NSSO data confirms India's jobs crisis: Unemployment at 45-year high of 6.1%, way out is to make economy grow
5 years, 11 months ago

NSSO data confirms India's jobs crisis: Unemployment at 45-year high of 6.1%, way out is to make economy grow

Firstpost  

The problem of unemployment is very serious and the only way to go ahead is to make the economy grow which happens gradually over time. The Business Standard report has focused on the unemployment rates among men and women youth in both urban and rural areas, which does require an explanation as it is quite deep-rooted and scary. The report …

India’s world-beating growth not enough to end deep jobs drought
6 years, 4 months ago

India’s world-beating growth not enough to end deep jobs drought

Live Mint  

Mumbai/New Delhi: The world’s fastest growing major economy isn’t growing nearly fast enough. Yet analysts generally agree that more needs to be done to open up the economy, attract foreign capital and generate the kind of wealth and business opportunities that has broadened the middle class in China, whose $12.2 trillion economy is more than four times as big as …

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