Stagnant wages amid fast economic growth: We need an Indian Enlightenment
2 days, 6 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 of growth without prosperity: This raises a critical question: why are wages stagnant despite robust economic growth? But true change demands an ‘enlightenment of the mind.’ India 1, the top bracket, must move beyond exploitative practices and recognize that every worker aspires to dignity and advancement.

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History of this topic

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 …

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

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 …

In search of jobs: On the challenge of employment generation
5 months, 3 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 …

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
7 months, 4 weeks 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 …

Trivialising the equality debate
8 months, 2 weeks ago

Trivialising the equality debate

Hindustan Times  

That India is among the rare exceptions in the Global South which has embraced privatisation and globalisation without a major economic crisis is a fact often not appreciated enough. Rising capital intensity in most high value sectors has made generating better paying jobs outside farms more difficult today. The BJP, which is clearly aware of the generalised economic discontent over …

Cong lists 'injustices' against workers, says its 'shramik nyay' will dispel 'anyay kaal' darkness
9 months, 2 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 …

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 …

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 …

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 …

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 …

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 …

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 …

Joblessness on the rise in India
2 years, 8 months ago

Joblessness on the rise in India

The Hindu  

After many years of refusing to recognise there is a jobs crisis in India, the government of India, faced with relentless data to the contrary, has now resorted to misinformation. As compared to the 8% per annum GDP growth in the period 2004-14, and 7.5 million new non-farm jobs created each year over 2005 to 2012, the number of new …

India’s GDP can grow to $40 trillion if working-age population gets employment: CII report
2 years, 9 months ago

India’s GDP can grow to $40 trillion if working-age population gets employment: CII report

The Hindu  

India’s Gross Domestic Product can grow from the current $3 trillion to $9 trillion by 2030, and $40 trillion by 2047, if the country’s working-age population — which is expected to increase by over 100 million people between 2020-30, is productively employed, according to a report by the Confederation of Indian Industry. ‘Golden period’ “The golden period of 30 years …

Growth is just not picking up, but no end to triumphalism
3 years, 11 months ago

Growth is just not picking up, but no end to triumphalism

Deccan Chronicle  

We have entered the 13th consecutive quarter of economic slowdown in India. Speaking loudly of competing with China and America but then falling behind even Bangladesh’s per capita GDP does not inspire confidence. When results for the same quarter year on year appear sometime in the middle of 2021, Prime Minister Modi will exclaim that we are the world’s fastest-growing …

The Indian economic recovery seems led by profits, not wages
4 years, 1 month ago

The Indian economic recovery seems led by profits, not wages

Live Mint  

The first estimates of economic growth in the September quarter indicate that India’s ongoing recovery has been better than expected. J.P. Morgan chief India economist Sajjid Chinoy has pointed out that one of the many ways to calculate the GDP of a country is by adding incomes—the operating profits of companies, wages of households, and the net indirect taxes collected …

India's jobless growth, coronavirus impact and rising unemployment
4 years, 4 months ago

India's jobless growth, coronavirus impact and rising unemployment

India Today  

When India’s growth was blooming in 2016-17, it earned the tag of the fastest-growing major economy in the world. READ | Welcome to Jobless Growth: Why India is facing an unemployment crisis They warned that the rate of jobless growth could severely impact India’s economy which depends heavily on the middle class population, engaged primarily in salaried jobs and entrepreneurship. …

India’s growth story has never seemed so endangered
4 years, 4 months ago

India’s growth story has never seemed so endangered

Live Mint  

We all knew it would be bad, but no one could have predicted just how bad. Supply and credit links, which had been largely cash-based in the informal sector, among others, remained broken even after high-denomination currency came back into circulation, and some small businesses and poorer households—we will likely never know how many—never recovered to their level of well-being …

India needs to create 90 million jobs by 2030 to avoid economic stagnation
4 years, 4 months ago

India needs to create 90 million jobs by 2030 to avoid economic stagnation

Deccan Chronicle  

Chennai: India’s GDP would have to grow by 8 to 8.5 per cent annually and the country would have to create jobs for 90 million workers by 2030. Over the decade to 2030, 60 million new workers are likely to enter the workforce as per current demographic trends, and an additional 30 million workers could move from farm work to …

How growth reshaped India’s destiny, and why we need an encore
4 years, 5 months ago

How growth reshaped India’s destiny, and why we need an encore

Live Mint  

The pandemic-induced recession has brought back memories of 1979, when India’s GDP contracted by more than 5 percent for the first time since independence. And if the GDP growth rate were to revert to the pre-1979 trajectory of 3 percent per annum, it would take nearly 30 years for India’s per capita income to double. India’s growth process over the …

Is the Indian economy staring at stagflation?
4 years, 11 months ago

Is the Indian economy staring at stagflation?

The Hindu  

The story so far: The rise in retail price inflation to a nearly six-year high of 7.35% in December has led to increasing worries that the Indian economy may be headed towards stagflation. At the same time, economists argue that an inflation rate beyond a certain level, at which point labour and other resources in the economy are fully employed, …

Opinion | Our economy needs ‘hard work’ as much as ‘Harvard’
5 years ago

Opinion | Our economy needs ‘hard work’ as much as ‘Harvard’

Live Mint  

With India’s gross domestic product growth slumping to 4.5%, concerns have arisen over how to grow the economy faster. This has reduced public confidence in the state’s institutions, which has deeper ramifications for the economy’s sustainable development than a growth dip. India’s leaders must choose a few things to do, do them well, and only then move on to other …

There is no easy fix to declining workforce productivity in India
5 years, 2 months ago

There is no easy fix to declining workforce productivity in India

Live Mint  

Labour productivity in India’s organized manufacturing sector continues its downward spiral. India Ratings and Research’s analysis of the Annual Survey of Industries data showed India’s productivity has fallen significantly over the last eight years. A report published by the State Bank of India Research said India’s labour productivity was significantly lower than global peers. Further, it said that India’s labour …

India’s economy slows, stalling once thriving manufacturing
5 years, 3 months ago

India’s economy slows, stalling once thriving manufacturing

Associated Press  

NEW DELHI — Anuj Kapoor took over his father’s booming auto parts business in 2012, hoping to elevate the company from selling to suppliers to selling directly to carmakers. “How do we file tax returns when sellers don’t give us any bills?” The sudden demonetization was the “biggest policy mistake of independent India,” says Jayati Ghosh, an economist at Jawaharlal …

Employment generation remains the toughest job
5 years, 6 months ago

Employment generation remains the toughest job

Live Mint  

New Delhi: The greatest challenge that the Narendra Modi-led government faces in its second term is that of job creation. At the same time, the share of workers with a regular job was also higher than that recorded in any other official jobs survey in the past. As a Mint analysis based on data from annual reports of companies and …

Employment generation remains the toughest job
5 years, 6 months ago

Employment generation remains the toughest job

Live Mint  

New Delhi: The greatest challenge that the Narendra Modi-led government faces in its second term is that of job creation. At the same time, the share of workers with a regular job was also higher than that recorded in any other official jobs survey in the past. As a Mint analysis based on data from annual reports of companies and …

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 …

Why income inequality in India may be fuelling populist politics
6 years ago

Why income inequality in India may be fuelling populist politics

Live Mint  

New Delhi: After Congress president Rahul Gandhi promised a nationwide farm loan waiver if voted to power in the 2019 Lok Sabha elections, the ruling Bharatiya Janata Party is contemplating a nationwide farm income support scheme, news reports suggest. Among large economies for which consistent time series data is available for the past two decades, India has seen the highest …

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 …

How Do You Solve a Problem Like Joblessness in India?
6 years, 2 months ago

How Do You Solve a Problem Like Joblessness in India?

The Quint  

To compound the issue, what is truly baffling is the idea of ‘gainful employment’ for 460 million Indian workers that focuses on improved quality of work and the income derived from it. Government schemes like ‘Skill India’, ‘Make in India’, ‘Prime Minister's Employment Generation Programme’, ‘Pradhan Mantri Rojgar Protsahan Yojana’, and ‘Pradhan Mantri Kaushal Vikas Yojana’ aimed at more fulfilling, …

The enormity of job challenge that India faces
6 years, 2 months ago

The enormity of job challenge that India faces

Live Mint  

While there is no clarity on the extent of jobs created in the economy since 2011-12, there is no disagreement that the economy has failed to create enough jobs. The unrest among farmers driven by declining incomes is also a manifestation of the problem of employment in a country with almost half of the total workforce working in agriculture. The …

Not enough jobs, private investments missing: What’s wrong with the world’s fastest growing economy?
6 years, 2 months ago

Not enough jobs, private investments missing: What’s wrong with the world’s fastest growing economy?

Firstpost  

A report from rating agency CARE, released early this week, revealed that India’s employment scenario is not looking good. It said job growth in corporate India moderated to 3.8 percent in fiscal year 2018, from 4.2 percent in the previous fiscal and the problem is most severe with smaller companies. A decline in the job numbers would also give room …

Job growth should address India’s socio-economic concerns
6 years, 3 months ago

Job growth should address India’s socio-economic concerns

Hindustan Times  

Resolving the jobs question is central to India’s future prosperity and stability. For an economy as large and diverse as India, a successful resolution of the employment challenge is impossible without confronting deeper socio-economic questions. Political parties repeatedly commit themselves to safeguarding reservations in government, yet any discussion on private sector reservations continues to be a taboo in the mainstream …

India’s job challenge: Options aplenty but well-paying ones elude workforce
6 years, 4 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 …

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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