India’s Jobless Growth: The Hidden Crisis Behind Booming GDP
From Current Affairs Notes for UPSC » Editorials & In-depths » This topic
Context: India's economic growth has been robust, yet it has not translated into proportional job creation, a phenomenon termed as "jobless growth." Despite a notable GDP growth rate, employment expansion has been minimal, with the International Labour Organization highlighting a negligible employment growth of just 0.01% from 2012 to 2019. This disparity is exacerbated by technological advancements, sectoral imbalances favoring services over manufacturing, and a significant informal sector. Recent reports indicate a persistent youth unemployment challenge, with rates significantly higher among graduates, underscoring the need for comprehensive policy interventions to align economic growth with employment opportunities.
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