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.
