The Quest for Quality Jobs: Dr. Arvind Panagariya's Insights

In a thought-provoking discussion on the phenomenon of jobless growth, Dr. Arvind Panagariya, Chairman of the 16th Finance Commission of India, challenges the conventional understanding of unemployment. He emphasizes that while the perception of joblessness may prevail, data from credible sources such as the Periodic Labour Force Survey indicates a consistent decline in the unemployment rate. However, the real issue lies in the quality of jobs being created, as evidenced by low productivity levels and widespread underemployment. Panagariya highlights the disproportionate distribution of the workforce, with a significant portion engaged in agriculture and micro/small enterprises, leading to subpar output per worker. He debunks skepticism surrounding GDP data integrity, asserting the complexity and robustness of the data collection process. Ultimately, Panagariya advocates for policy interventions to address the root causes of underemployment and foster the creation of higher-quality jobs to enhance productivity and drive sustainable economic growth.