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Researchers from IIM Lucknow and BITS Pilani conducted research for inclusive job growth, which reveals that the new generation needs to catch up with the expanding working-age population in the country. Read full details here!
New Delhi: A study conducted by Prof. D. Tripati Rao from IIM Lucknow, in collaboration with researchers from Birla Institute of Technology and Science Pilani and the Ministry of Agriculture & Farmers Welfare, highlights a concerning employment trend despite India's notable economic growth from 2004-05 to 2017-18.
As outlined in a press release by IIM Lucknow, the study emphasises that while the agricultural sector employs a significant number of youths, it contributes low value-added to the overall economy, leading to substantial employment challenges.
On the other hand, non-farm sectors with higher economic potential are reluctant to hire, despite their capability to contribute significantly to economic upliftment. The research reveals that employment generation needs to catch up with the expanding working-age population in the country.
Key Findings of IIM Lucknow, BITS Pilani Joint Research
Prof D Tripati Rao, Faculty of Economics in Business Environment at IIM Lucknow, underscores the finding that economic growth, instead of encouraging increased employment, has resulted in a net labour displacement.
The research underscores the importance of examining the quantity of jobs created and focusing on the quality and decency of these jobs, highlighting the crucial link between productivity and job decency.
The press release notes that despite the impressive economic growth observed during the specified period, there has been a lack of job creation, resulting in a phenomenon termed 'jobless growth,' wherein the working-age population (ages 15 to 64) remains underutilised.
In response to these findings, the researchers advocate for critical policy intervention: a concerted effort to make the manufacturing sector more labour-intensive for inclusive growth. They argue that such a move would create substantial linkage effects, positively impacting various industries, as communicated by IIM Lucknow.
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