Job creation in the country still remains sluggish
It is a cause for concern. Indeed, creating job opportunities has to be top priority for the government to ensure that the rapid economic growth is inclusive and equitable.
- Feb 20, 2016,
- Updated Feb 20, 2016 11:59 AM IST
The Indian economy may be expanding at a brisk pace, but job creation in the country has remained sluggish. In fact, the compound annual growth rate (CAGR) of employment has decelerated - from 2.8 per cent between 1999/2000 and 2004/05 to 0.5 per cent between 2004/05 and 2011/12. Meanwhile, India's workforce has grown at almost 2 per cent annually between 1999/2000 and 2011/12 to 47.5 crore. It is a cause for concern. Indeed, creating job opportunities has to be top priority for the government to ensure that the rapid economic growth is inclusive and equitable.
The Indian economy may be expanding at a brisk pace, but job creation in the country has remained sluggish. In fact, the compound annual growth rate (CAGR) of employment has decelerated - from 2.8 per cent between 1999/2000 and 2004/05 to 0.5 per cent between 2004/05 and 2011/12. Meanwhile, India's workforce has grown at almost 2 per cent annually between 1999/2000 and 2011/12 to 47.5 crore. It is a cause for concern. Indeed, creating job opportunities has to be top priority for the government to ensure that the rapid economic growth is inclusive and equitable.