 "Mahesh Vyas")
Conventional wisdom states that unemployment rate in a poor country like India is bound to remain low because people cannot afford to remain unemployed. People may be willing to work even at very low wages rather than stay unemployed.
Perhaps, it is time to correct this understanding. India is not a poor country as it was in the past. It is a developing country with a large middle class, often described as a young, impatient and aspirational middle class. This aspirational middle class youth is not willing to work for a pittance. It'd rather sit out of the labour force
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