Let’s step up strategic efforts to mobilize India’s labour potential
Live MintFor years, India’s demographic transition has garnered significant attention. As per the National Sample Survey Office’s Periodic Labour Force Survey 2020-21, India’s labour force participation rate for all age groups is around 41.6%. With our working-age population projected to grow by roughly 9.7 million per year from 2021 to 2031 and 4.2 million annually in the 2031-41 period, there is immense potential to mobilize the expanding working-age population and elevate labour force participation. The ‘output per potential worker’ aspect indicates a broader notion of productivity that captures the productivity of the employed as well as the ability of a country to mobilize its working-age population. As per the Periodic Labour Force Survey Annual Report 2020-21, the all-India female labour force participation rate in usual status has increased to 25.1%, as compared to 22.8% a year ago.