The jobs crisis worsens

Economic slowdown is only partially to blame for the rise in unemployment. The principal reason is weak policies

Jobs, employment

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Shankar Acharya
India’s large and growing working age population, currently numbering close to a billion, is her greatest potential resource for rapid and sustained economic development. Sixteen years ago, I had warned that this demographic dividend could be squandered in the absence of the right policies (Business Standard , November 25, 2003, “Can India grow without Bharat?”, republished in 2007 by Academic Foundation in a book with the same title). Since then, successive governments have persisted with wrong or weak policies and programmes, including a poor public education and skilling system; an extremely complex and anti-job-creation maze of labour laws; trade and exchange rate policies that discourage labour-using exports and import-competing domestic production; poor infrastructure that undermines productivity and connectivity; a chronically
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of or the Business Standard newspaper

First Published: Nov 18 2019 | 11:16 PM IST

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