Publisher's Synopsis
Rapid economic growth in India over the last quarter century has reduced extreme poverty and modestly improved the quality of life of a large segment of the population. However, large employment deficits remain: most jobs created are of poor quality and low productivity in the informal economy. Further, the gains from growth have been distributed unevenly. Growing inequalities and vulnerabilities have generated widespread insecurity of livelihoods and highlighted weaknesses in prevailing social protection systems.
This Report is the first of a series of biennial publications by the Institute for Human Development and the Indian Society of Labour Economics. It provides an overview of the labour market and employment outcomes that the Indian economy has delivered as it globalised. It concludes that structural changes are slow and difficult, and the potential for equitable growth remains unrealised, hampered by policy inertia, resistance from social and economic interests and rigidities of existing systems and perspectives. The Report assesses the gains and losses for labour in the first round of globalisation. It reveals many markers of progress as well as deep challenges. Effective, responsive, fair and comprehensive labour and employment policy is vital for sustainable and inclusive development. That is the central message of this Report.
