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Indian Economy needs to create enough good Safe Productive well-paying Jobs

Budget - Dated:- 26-2-2016 - The Economic Survey 2015-2016 stresses that India being in the midway through its demographic dividend is providing an economic growth in terms of the working age share of the population. Hence to exploit this dividend and meet the growing aspiration of those entering the labor force, India s Economy needs to create enough good jobs - jobs that are safe and pay well, and encourage firms and workers to improve skills and productivity. It may be noted that of the 10.5 .....

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rms have reported labour regulations to be a significant barrier to growth and specifically dismissal norm under the Industrial Disputes Act and the cumbersome nature of compliance with labour regulations in general Contract workers has increased from 12 per cent of all registered manufacturing workers in 1999 to over 25 per cent 2010 on account of firms attitude to negotiate with labour regulations just to boost their production without facing any kind of labours unrest. The survey has suggeste .....

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ly this sector is now in process of relocating its units in second and third tier towns and cities. This business model of moving factories to workers has a number of commercial and social advantages-it involves spreading economic development to underdeveloped areas, reduces spatial mismatch in the labour market and can improve competitiveness by raising firms access to lower cost labour. Moreover, about 70 per cent of the employees of India s larges apparel exporter are women. Recent studies ha .....

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