It seems as though the Centre does not know how to tackle the economic slowdown and lack of jobs in the country.
In both old and new sectors of the economy, lay offs and workforce reductions have been common since 2016.
The success of Rajiv Kumar’s tenure, who has moved from the left of the ideological spectrum to the right, will depend whether he succeeds in moving the Aayog away from being a government mouthpiece and creating a shared narrative around job creation.
Labour minister Bandaru Dattatreya sidestepped questions on jobless economic growth and the impact of demonetisation after admitting to ‘jobless growth’.
While the labour ministry thinks the government has a successful job creation record, a recent report has shed light on growing joblessness and the shift towards informal and low-paid employment avenues.
The Modi government’s failure on crucial development fronts such as farmer incomes and job creation may hold the key in understanding the rapid shift in narrative from human development to nationalism.
Only 16.5% of workers in India earn a regular wage.
Spending on Housing for All, road construction and other infrastructure projects is likely to create jobs, but it remains to be seen whether this alone will be enough.
Leveraging the job creation opportunity presented by the digital economy is a ‘natural fit’ for India, with demonetisation the perfect exercise for it.
More than 550 jobs were lost each day in the last four years in India, placing it behind Bangladesh and Vietnam in terms of job creation.
Labour market policies need to be seriously rethought, given the slow rate of job creation and rapid increase in automation.
It makes little sense today to play catch-up with a Chinese model that may have worked well in its own time and place, but one which the next wave of the digital technology looks set to steam-roll into oblivion.
The number of jobs created in eight select industries in 2015 was 135,000. This was much worse than the 421,000 jobs created in 2014 and the 419,000 in 2013.