Income levels of salaried class in India have stagnated in recent years
1 week, 6 days ago

Income levels of salaried class in India have stagnated in recent years

The Hindu  

Last week, Niti Aayog member Arvind Virmani said in an interview that while employment is increasing, real wages for regular salaried jobs have not kept up with inflation over the last seven years. An analysis of the earnings data for salaried workers, casual labourers, and self-employed persons from Periodic Labour Force Survey reports shows that when adjusted for inflation, wages for salaried workers in India have stagnated since 2019. Real wages for salaried jobs Real wages for salaried jobs were 1.7% lower in the 2024 June quarter compared to the pre-pandemic 2019 June quarter. Real wages for casual labour were 12.3% higher in the 2024 June quarter compared to the pre-pandemic 2019 June quarter. Professor Menon explains that demonetisation and implementation of the Goods and Service Tax were significant ‘negative shocks’ to the economy which led to a rise in unemployment and “at the very least, ensured that wages did not grow as fast as it would have done if these policies were not implemented.” Dr. Roychowdhury adds that wages have been stagnant since 2018 and the idea that economic growth is ‘robust’ is not entirely true because the government is implementing various policies to provide a boost to economic growth and domestic demand.

India Inflation Labour Wages Share Real Quarter Real Wages Chart Plfs Menon Salaried Salaried Workers Roychowdhury Salaried Jobs Professor Menon Casual Labour Workers Casual  salaried  levels  class  stagnated  recent  labour  workers  casual  selfemployed  quarter  inflation  share  income  real  india  wages

History of this topic

Employment rising, but employees’ salaries not keeping pace with inflation: Niti member Virmani
3 weeks, 2 days ago

Employment rising, but employees’ salaries not keeping pace with inflation: Niti member Virmani

Live Mint  

New Delhi, Mar 2 Niti Aayog member Arvind Virmani has said that while employment is increasing in India, real wages for regular jobs have not kept pace with inflation over the past seven years. In an interview with PTI-Bhasha, he said, "According to PLFS data, the worker-population ratio has been clearly increasing in the last seven years. In this category, …

India’s Salaries to Rise by 9.2% in 2025: Aon Report
1 month ago

India’s Salaries to Rise by 9.2% in 2025: Aon Report

Deccan Chronicle  

Chennai: Salaries across sectors are set to rise by 9.2 per cent in 2025, in a declining trend amidst global uncertainty and softening growth. Salaries are set to rise by 9.2 per cent in 2025, a slight decline from the increase of 9.3 per cent in 2024, amidst global uncertainty and softening growth. This indicates a trend of declining salary …

Worker scarcity: Low-wage labour in India is crying out for a quantum leap in pay
1 month, 1 week ago

Worker scarcity: Low-wage labour in India is crying out for a quantum leap in pay

Live Mint  

India’s labour abundance, especially for low-paid jobs, has long been taken for granted. A problem of labour retention was also identified by Vimal Kejriwal, CEO of KEC International, who reportedly said that workers used to work at a site for almost a year before going on annual leave, but now often leave within a quarter and do not return. All …

Can the budget unlock labour market potential?
1 month, 3 weeks ago

Can the budget unlock labour market potential?

Hindustan Times  

India’s labour market has made notable strides in recent years, bolstered by a strong post-pandemic recovery and increased formalisation of employment. One of the primary concerns is the stagnation of salaried employment, which suggests weaker demand for skilled labour or slower expansion in the industrial and service sectors, both essential for long-term economic growth. The substantial ₹38,000 crore allocation to …

Economic Survey projects impressive growth, but stagnant jobs and wages remain big challenge
1 month, 3 weeks ago

Economic Survey projects impressive growth, but stagnant jobs and wages remain big challenge

Firstpost  

Policymakers must double down on deregulation for MSMEs, encourage fair income distribution, and focus on skill development. While corporate bond issuances stood at Rs 7.3 lakh crore, making up a significant portion of private financing, India’s corporate bond market remains at just 18 per cent of GDP, compared to 80 per cent in South Korea and 36 per cent in …

Economic Survey 2025: A corporate bonanza of big profits but slow pay
1 month, 3 weeks ago

Economic Survey 2025: A corporate bonanza of big profits but slow pay

Live Mint  

Corporate India is riding a wave of record-breaking profits, but the tide isn’t lifting all boats. While companies are raking in their highest earnings in 15 years, wage growth and job creation are lagging far behind, sparking concerns over rising income inequality and its impact on the economy. “While the labour share of GVA shows a slight uptick, the disproportionate …

Hiding in labour data, a tale of economic distress
2 months ago

Hiding in labour data, a tale of economic distress

Hindustan Times  

The recent statements by the Union labour minister Mansukh Mandaviya rightly suggest that the labour force participation rate is up and the unemployment rate is down based on data from the Periodic Labour Force Survey. Not just that, this tide of apparent job creation has managed to push the female labour force participation rate up since 2017-18, reversing the earlier …

Stagnant wages amid fast economic growth: We need an Indian Enlightenment
2 months, 1 week 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 …

Economic potential eroding rapidly while PM Modi generates hype: Congress
3 months, 3 weeks ago

Economic potential eroding rapidly while PM Modi generates hype: Congress

New Indian Express  

The Congress leader pointed out that the report uses Periodic Labour Force Survey data to show that overall real wage growth at the national level has been flat at 0.01% over the last five years. Citing Labour Bureau's Wage Rate Index, he said real wages for the labourers stagnated between 2014-2023 and in fact declined between 2019-2024. Ramesh further cited …

Little change in India’s unemployment rate in urban areas: PLFS data
4 months ago

Little change in India’s unemployment rate in urban areas: PLFS data

Hindustan Times  

India’s unemployment rate in urban areas during July-Sept 2024 stood at 6.4%, compared to 6.6% in the same period last year, according to the government’s quarterly periodic labour force survey released on Monday. According to the government’s Economic Survey 2023-24, India needs to create 7.85 million non-farm jobs every year until 2030 to absorb its growing labour force. The labour …

Average Indian can buy less than they could 10 years ago: Congress
4 months, 2 weeks ago

Average Indian can buy less than they could 10 years ago: Congress

The Hindu  

The Congress on Sunday claimed that the average Indian can buy less today than they could ten years ago, saying that the cause for the slowdown in India’s consumption is the result of sustained income stagnation. Our statement on this unfortunate reality and its consequences for India's consumption story and long-term economic potential pic.twitter.com/qGEAbPSFbg — Jairam Ramesh November 10, 2024 …

FY24 unemployment rate unchanged at 3.2%
6 months ago

FY24 unemployment rate unchanged at 3.2%

Hindustan Times  

India’s annual unemployment rate remained unchanged at 3.2% in 2023-24, mirroring the previous year’s figure, despite an increase in the number of people working or looking for a job, according to the latest annual Periodic Labour Force Survey report released on Monday. FY24 unemployment rate unchanged at 3.2% {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}} This marks the first time the headline unemployment …

Congress slams govt. over ‘unprecedented decline’ in real wages, calls it the ‘proverbial ostrich’
6 months, 3 weeks ago

Congress slams govt. over ‘unprecedented decline’ in real wages, calls it the ‘proverbial ostrich’

The Hindu  

The Congress on Sunday claimed that a combination of slow wage growth and "back-breaking" inflation has caused an unprecedented decline in real wages and said that, like the "proverbial ostrich", the government continues to remain blind to the most fundamental challenge faced by the Indian economy. "A combination of slow wage growth and back-breaking inflation has caused an unprecedented decline …

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

Why the general election message may reflect in Union Budget 2025
8 months, 1 week ago

Why the general election message may reflect in Union Budget 2025

India Today  

Union Budget 2024-25 is just days away. The general consensus among experts and economists is that this time round, finance minister Nirmala Sitharaman will take cue from the public sentiment at the time of the general election and focus on some of the key concerns expressed, when she presents the budget on July 23. In that sense, likely to draw …

India’s silent youth crisis: College-educated but poorer than a farm hand
10 months, 1 week 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 …

Can India Ensure Living Wages at a Time When Workers Struggle for Minimum Wage?
11 months, 3 weeks ago

Can India Ensure Living Wages at a Time When Workers Struggle for Minimum Wage?

The Quint  

Recruitment happened through middlemen, the pay was based on piecework, and most workers preferred daily wages to avoid deductions for benefits from their already meagre income of Rs 300. Even though company hostels provided them with shelter, migrant workers were still classified as daily wage earners, receiving no benefits. Although these workers perform industrial work, qualifying them as organised sector …

Cong lists 'injustices' against workers, says its 'shramik nyay' will dispel 'anyay kaal' darkness
11 months, 3 weeks ago

Cong lists 'injustices' against workers, says its 'shramik nyay' will dispel 'anyay kaal' darkness

Deccan Chronicle  

New Delhi, Mar 26 The Congress on Tuesday accused the Narendra Modi government of inflicting six major injustices upon workers, including a decline in real wages and "slow death of MGNREGA", as it asserted that its guarantees under "shramik nyay" will dispel the darkness of the "anyay kaal". According to him, these were "declining real wages, anti-worker labour codes and …

Median salaries for women rises 28% in 2024; 2.8 crore out of 7 crore applicants are female: Report
1 year, 1 month ago

Median salaries for women rises 28% in 2024; 2.8 crore out of 7 crore applicants are female: Report

Live Mint  

New Delhi, Dec 24 Women accounted for an impressive 2.8 crore job applications, out of a total of seven crore in 2024, marking a 20 per cent increase from 2023, revealed a new report. The total of seven crore job applications, which itself is a "25 per cent year-on-year surge", according to the report, is primarily driven by heightened workforce …

Growth mania can be injurious to society
1 year, 1 month 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 …

There is more to India's mystery of raised employment post-pandemic
1 year, 3 months ago

There is more to India's mystery of raised employment post-pandemic

Live Mint  

In the post-pandemic years, a macroeconomic puzzle has emerged in India and elsewhere. What’s driving the decline in real earnings in some categories of workers—the number of hours worked or real hourly wage rate? According to the PFLS reports, since 2017-18, working hours on average have fallen for both men and women in rural and urban India in all types …

The week in 5 charts | Uttarkashi tunnel rescue, India’s GDP increases in Q2, Unemployment rate dips, and more
1 year, 3 months ago

The week in 5 charts | Uttarkashi tunnel rescue, India’s GDP increases in Q2, Unemployment rate dips, and more

The Hindu  

After 17-days, trapped workers rescued from the Uttarkashi tunnel On November 12, when portions of the Silkyara-Dandalgaon under-construction tunnel on the Brahmkhal-Yamunotri highway collapsed, 41 workers were trapped with no way out. GDP surges 7.6% in Q2, goes past RBI forecast India’s Gross Domestic Product grew at a higher-than-expected 7.6% in the July to September 2023 quarter, as per initial …

India's unemployment rate hits 6-year low at 3.2% in latest government data
1 year, 5 months ago

India's unemployment rate hits 6-year low at 3.2% in latest government data

India TV News  

India's unemployment rate for individuals aged 15 and above has reached its lowest point in six years, registering at 3.2% during the period from July 2022 to June 2023, according to the Periodic Labour Force Survey Annual Report 2022-2023 released by the National Sample Survey Office. Rise in labour force participation The Labour Force Participation Rate in usual status for …

The rise and rise of white-collar salaried aristocracy in India
1 year, 7 months ago

The rise and rise of white-collar salaried aristocracy in India

Hindustan Times  

There were around 76,000 more so-called crorepatis by income tax returns in 2022-23 when compared to 2021-22. But even more illuminating is the publication of Income Tax Return data – this includes both income tax and corporation tax filings – for assessment year 2019-20, 2020-21 and 2021-22 recently. The Indian economy has seen multiple disruptions such as the Global Financial …

Optimism is back but inflation casts a shadow
2 years, 1 month ago

Optimism is back but inflation casts a shadow

Live Mint  

The year 2022 was the first one with a semblance of normalcy after the covid-19 pandemic. The share of respondents who see a drop in earnings in the coming year stood in single digits for the first time since 2020. However, note that around 54% of respondents still find a job-hunt “difficult"—a reminder that India’s jobs crisis is far from …

Addressing gender inequalities: India needs bold steps
2 years, 1 month ago

Addressing gender inequalities: India needs bold steps

Hindustan Times  

India, which assumed presidency of G20 this year, has stated that it will prioritise inclusive growth and development, with women empowerment and representation at the forefront of its G20 discussions. This indeed is a desirable objective, given the large gender inequalities that exist in several G20 member countries, especially in India, which also gets reflected in its overall human development …

Explained | The lingering crisis of labour post-pandemic
2 years, 3 months ago

Explained | The lingering crisis of labour post-pandemic

The Hindu  

The story so far: The International Labour Organisation recently released two reports that gave an indication of the global employment scenario post-pandemic. The ‘Global Wage Report 2022-2023: The Impact of inflation and COVID-19 on wages and purchasing power’ discuss the twin crises, inflation and economic slowdown, which created a “striking fall” in real monthly wages around the globe. The nominal …

Salaries in India likely to rise by 10.4 pc in 2023: Aon Survey
2 years, 5 months ago

Salaries in India likely to rise by 10.4 pc in 2023: Aon Survey

Deccan Chronicle  

NEW DELHI: Corporate India is bullish about its strong business performance and expected to dole out a double-digit salary hike of as much as 10.4 per cent in 2023, a survey said on Monday. According to leading global professional services firm Aon Plc's latest Salary Increase Survey in India, remunerations in India are expected to increase by 10.4 per cent …

Joblessness below pre-COVID levels: Finance Ministry
2 years, 6 months ago

Joblessness below pre-COVID levels: Finance Ministry

The Hindu  

Demand for work under the national rural employment guarantee scheme hit a two-year low in August, signalling that the recovering economy is creating more jobs in rural as well as urban India, the Union Finance Ministry said on Saturday. India’s inflation, the Ministry said, is “in control” and expected to moderate in coming months from the 7% mark in August …

India’s unemployment rate plunges to 7.6% in April-June 2022: NSO survey
2 years, 6 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, …

Indian Companies Expected To Witness Median Salary Hike Of 10% in FY23; Check Details
2 years, 7 months ago

Indian Companies Expected To Witness Median Salary Hike Of 10% in FY23; Check Details

News 18  

Indian companies are expected to witness a median salary hike of 10 per cent in 2023, mainly influenced by a continuation of the tight labour market and rising inflation concerns, according to a report by global advisory firm WTW. Companies in India are planning an overall jump of 10 per cent for 2022-23 as compared with the actual 9.5 per …

Waiting for jobs: The Hindu Editorial on the Narendra Modi government’s plan to recruit 10 lakh personnel in 18 months
2 years, 9 months ago

Waiting for jobs: The Hindu Editorial on the Narendra Modi government’s plan to recruit 10 lakh personnel in 18 months

The Hindu  

For a nation that has had a significant demographic dividend — the working age population is much larger than the non-working age sections — finding productive employment for its youth was to be an imperative for India. Yet, in the last few years, unemployment has remained a major concern — the leaked Periodic Labour Force Survey in 2018 revealed that …

Looking beyond the joblessness number
2 years, 9 months ago

Looking beyond the joblessness number

Hindustan Times  

Unemployment rates are often looked at as the ultimate measure of a country’s ability to create employment. While they are indeed an important metric as far as the labour market is concerned, there is a need to look beyond the headline unemployment number, especially in the case of emerging market economies such as India. The 2020-21 PLFS report – it …

The difference in public and private estimates of employment in India
2 years, 11 months ago

The difference in public and private estimates of employment in India

Hindustan Times  

India does not have official high-frequency employment data, unlike countries such as the US, where statistics on employment, hours of work, overtime work, weekly and hourly income are available every month. CPHS overestimates the labour earnings for the pre-pandemic year According to PLFS data, the all-India average labour income in 2018-19 was ₹11,225 per month. This is 19% to 55% …

A hazy picture on employment in India
3 years, 1 month ago

A hazy picture on employment in India

The Hindu  

The two important indicators of structural transformation in any economy are rates of growth and changes in the structural composition of output and the workforce. Also, the unemployment rate in the female labour force in rural areas is far lower than the male labour force, whereas the opposite holds true in urban areas. This is despite the fact that the …

Data | Jobs increase in rural India in September
3 years, 5 months ago

Data | Jobs increase in rural India in September

The Hindu  

In India, 8.5 million new jobs were gained in September 2021, increasing the total employment to 406.2 mn from 397.8 mn in August, according to CMIE’s Consumer Pyramids Household Survey. There was a significant improvement in the quality of employment as salaried jobs increased in both rural and urban regions. Click to remove AMP mode High rural share As many …

Data | In July, more than 65% consumers believe their incomes have reduced: RBI survey
3 years, 7 months ago

Data | In July, more than 65% consumers believe their incomes have reduced: RBI survey

The Hindu  

The RBI's July edition of the consumer confidence survey shows that urban Indians are still highly pessimistic about employment opportunities, though their confidence has marginally improved since May when the second COVID-19 wave was at its peak. Thus, consumers believe that while the employment scenario has improved a little compared to the time when the second COVID-19 wave was at …

Unemployment rate rises as Covid-19 returns to haunt Indian economy
3 years, 11 months ago

Unemployment rate rises as Covid-19 returns to haunt Indian economy

India Today  

Fresh restrictions imposed in different parts of the country due to the second Covid-19 wave could lead to job losses, similar to what was witnessed in 2020. The unemployment rate touched 8.6 per cent for the week ending April 11, from just 6.7 per cent two weeks ago, according to fresh data released by CMIE. Read | Covid-19: Over 9 …

One year since COVID-19 lockdown: India still recovering from unemployment blow
4 years ago

One year since COVID-19 lockdown: India still recovering from unemployment blow

The Hindu  

India is still not out of the woods as far as unemployment is concerned after a year when the lockdown was imposed to contain the spread of deadly COVID-19 on March 25 last year as pandemic-induced job loss has not tapered off consistently. According to the Centre for Monitoring Indian Economy data, the unemployment rate was recorded at 6.9 % …

India to see marginal hike in average salary to 6.4% in 2021: Survey
4 years, 1 month ago

India to see marginal hike in average salary to 6.4% in 2021: Survey

India TV News  

Salaries in India are projected to rise by an average of 6.4 per cent in 2021, marginally higher than the average actual increase of 5.9 per cent in 2020, according to a Willis Towers Watson survey. According to Willis Towers Watson's latest Salary Budget Planning Survey report, an average salary increase of 6.4 per cent in 2021 translates to a …

Over 1.8 crore salaried jobs lost since April, nearly 50 lakh in July: CMIE
4 years, 7 months ago

Over 1.8 crore salaried jobs lost since April, nearly 50 lakh in July: CMIE

India Today  

Nearly 50 lakh salaried jobs were lost in India in July, according to latest data released by the Centre for Monitoring Indian Economy. According to CMIE’s latest report, more than 1.8 crore salaried employees lost their jobs after the pandemic forced businesses and firms to shutdown in India since April. While employment in informal sector and rural areas have seen …

India’s unemployment rate saw a small dip in 2018-19, says survey
4 years, 9 months ago

India’s unemployment rate saw a small dip in 2018-19, says survey

The Hindu  

India’s unemployment rate improved from the 45-year high of 6.1% in 2017-18 to 5.8% in 2018-19, says the latest Periodic Labour Force Survey, released by the Ministry of Statistics and Programme Implementation on Thursday. The labour force participation rate also improved marginally, from 36.9% in 2017-18 to 37.5% in 2018-19. The unemployment rate is the percentage of people without work …

Good News! Salaries in India likely to rise by 9.2 % in 2020; highest in Asia
5 years, 3 months ago

Good News! Salaries in India likely to rise by 9.2 % in 2020; highest in Asia

India TV News  

Employees in India are expected to see 9.2 per cent salary growth in 2020, highest in Asia, but inflation may play a spoiler as real-wage salaries in the country is anticipated to be just 5 per cent, a report said on Monday. According to Korn Ferry Global Salary Forecast, India's salary growth for 2020 stood at 9.2 per cent down …

Most regular jobs in India don’t pay well: PLFS
5 years, 7 months ago

Most regular jobs in India don’t pay well: PLFS

Live Mint  

The much-awaited report of the Periodic Labour Force Survey 2017-18 has highlighted the difficult job situation with 6.1% of India’s labour force, and 17.8% of young people in the labour force reporting to be unemployed. In 2017-18, around 45% of regular workers earned less than ₹10,000 per month, and about 12% earned less than ₹5,000 per month. In rural areas, …

State of Working India Report 2019: Country's unemployment crisis is real; boosting investments in health, education can work wonders
5 years, 11 months ago

State of Working India Report 2019: Country's unemployment crisis is real; boosting investments in health, education can work wonders

Firstpost  

The biggest challenge regarding employment in the country is the gap between demand and supply. The Azim Premji University’s Centre for Sustainable Employment has just released its report, State of Working India Report 2019. The State of Working India Report 2019 proposes a universal basic service scheme for employment generation. The solution which State of India report 2019 suggests is …

50 lakh people lost jobs since demonetisation in 2016, reveals latest report on job crisis; unemployment rate rose to over 6% in 2018
5 years, 11 months ago

50 lakh people lost jobs since demonetisation in 2016, reveals latest report on job crisis; unemployment rate rose to over 6% in 2018

Firstpost  

The CSE survey said lakh men lost their jobs between 2016 and 2018 and the beginning of the decline of jobs coinciding with demonetisation in November 2016. Months after a leaked report on unemployment by the National Sample Survey Office created furore, with the Opposition calling it a “ national disaster ” and the Centre taking recuse by dubbing it …

India’s February jobless rate climbed to 7.2%: CMIE
6 years ago

India’s February jobless rate climbed to 7.2%: CMIE

Live Mint  

New Delhi: The unemployment rate in India rose to 7.2% in February 2019, the highest since September 2016, and up from 5.9% in February 2018, according to data compiled by the Centre for Monitoring Indian Economy that was released on Tuesday. The unemployment rate has climbed despite a fall in the number of job seekers, Mahesh Vyas, head of the …

Opinion | The latest NSSO report creates opportunity for labour reform
6 years, 1 month ago

Opinion | The latest NSSO report creates opportunity for labour reform

Live Mint  

Demonetization carpet-bombed the economy, while the goods and services tax created a minefield, arbitrarily killing firms that put a foot wrong. The periodic labour force survey, conducted by the National Sample Survey Office, reported the unemployment rate at 6.1% for 2017-18—the highest in 45 years. In India’s complex regulatory system, formalization comes at a high cost, and India’s labour force …

India’s job challenge: Options aplenty but well-paying ones elude workforce
6 years, 6 months ago

India’s job challenge: Options aplenty but well-paying ones elude workforce

Hindustan Times  

Everybody agrees that employment generation is India’s biggest political-economy challenge. While the share of agriculture in India’s GDP has been coming down, its share of employment has been relatively constant. The relative share being greater than one will mean that the sector’s income share is greater than its employment share in the economy. A 2014 Reserve Bank of India working …

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