Employment in India: What is the current statistics?
In a country like India where governments are formed and ministers are selected by the public, no one can be sure about its tenure as a ruling party or as a leader. Public is the strongest part of a democratic country like India. How you will judge the performance of a ruling party or leader? You can have your own parameters to judge a particular leader or party. Employment can be the biggest gift of a youngster’s life as well as it can be the best sign of a country’s success. Let’s have a look at the current situation of employment in India.
KLEMS initiative has been started to promote the analysis of growth and productivity patterns across the world. According to the recent reports of KLEMS, employment in the total economy of India is reduced to 0.2% in budget session 2014-15 and 0.1% in 2015-16 respectively. These data are collected by KLEMS with the help Reserve Bank of India (RBI) for the purpose of analyzing the productivity of Indian economy. It is a part of initiative by the World KLEMS and supported by various central banks, research institutions and universities to have a look at the pattern of productivity and growth around the world. The recent KLEMS data is available on the official website of RBI.
The data is clearly showing that the Indian economy is constantly going towards that downward curve. The employment reduced in various sectors like mining, textiles, leather productions, paper industries, agriculture, forestry, transport equipment as well as in trade. These are severely affected sectors in which employment reduced in both 2014-15 and 2015-16 sessions.
The surprising thing is that, these years are known for high growth, with Gross Domestic Product (GDP) growing by 7.4% in 2014-15 & 8.2% in 2015-16. If these parameters are enough to analyze the real growth, then where are the jobs? Why the employment is reducing day by day? There has been so much talks about the GDP and other growths in Indian economy. But these growths are not proving job-rising growths. These are instead job-destroying growths.
One can say that agriculture has not been the best way to earn and people are leaving this sector to get jobs in other sectors. But are they really getting the jobs? Unfortunately, data are saying a completely different story. Most of the people who left the agriculture or farming in search of a better earning option, they are still jobless.
The other sector where one can expect a better employment is construction. According to reports, people are constantly getting the jobs in construction industry because of sorry state of real estate in India. But unfortunately, according to KLEMS, the productivity in the construction industry has also been falling ridiculously. According to KLEMS data, the productivity of construction industry is declining year by year ever sine 2006-07.
The big question is that, when an International body like KLEMS is showing the rapid decline in the employment in India, then what will an unemployed youngster will do with a growing GDP? The question worth to spare a time and think. There are some other serious questions but who is going to think and answer?