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Job Creation in Industry and Services is important for overall prosperity - Arvind Panagariya

Dated:- 18-5-2015 - The Vice chairman of NITI Aayog, Arvind Panagariya has underlined the importance of job creation in industry and services for overall prosperity of the nation. He shared the views with the people in his first blog post published on the newly launched website of NITI Aayog in New Delhi today. The full text of the blog post is as follows and can be accessed at www.niti.gov.in. There can be little disagreement that the fastest relief to the poor in India would come from producti .....

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percent annually are rare. In the recorded Indian history, the fastest that agriculture has grown nationally over a continuous ten-year period has been under 5 percent. Put another way, in countries experiencing growth rates of 6 percent or more over long periods, overwhelmingly, industry and services have grown substantially faster than agriculture. It is in this context that the creation of good jobs in industry and services is critically important. Unless workers have the opportunity to migr .....

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ment share of agriculture fell. A similar pattern was observed in Taiwan during the 1960s and 1970s and more recently China. Indian farmers and their children recognize the superior prospects that faster-growing industry and services can potentially offer. According to a recent survey conducted by the NGO Lokniti, 62 percent of all farmers say that they would quit farming if they could get a job in the city. As for their children, 76 percent say that they would like to take a profession other th .....

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encouraged states to undertake labor law reforms that would help stimulate jobs. States of Rajasthan and Madhya Pradesh have taken lead in this area and, going by the reports in the press, the central government is now considering an overhaul of labor-law regime. It intends to consolidate the 44 central labor laws into five while simultaneously introducing important employment-friendly reforms. The government has also greatly cut the inspector raj by introducing a portal that allows small and m .....

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