Survey pitches for labour reforms for more job creation

Labour law reforms can generate significantly more jobs as seen in the case of Rajasthan compared to other states, the Economic Survey for 2018-19 stated.

India needs to create 55-60 lakh jobs every year in the next decade at labour force participate rate of 60 per cent, the survey, which was tabled in Parliament on Thursday pointed out.

"Deregulating labour law restrictions can create significantly more jobs, as seen by the recent changes in Rajasthan when compared to the rest of the states," the survey said.

The document predicts that the working-age population will grow by roughly 97 lakh per year during the coming decade and 42 lakh per year in the 2030s.

It said, "If we assume that the labour force participation rate (LFPR) would remain at about 60 per cent in the next two decades, about 55-60 lakh jobs will have to be created annually over the next decade."