India is under the clutches of severe ‘underemployment’: National think tank

 Highlighting the urgent need of creating well-paid jobs in India, the national policy think tank, the National Institute for Transforming India (NITI Aayog) has reminded the concerned, through their three-year action plan report, that the country is under the clutches of severe underemployment. The statement has redrawn the old perception regarding the employment that the country is under the clutches of unemployment. In the statement, there is a silent reminder for the authorities that the concerned should change the policy in accordance with the newly identified realities. The three-year action plan prepared by the NITI Aayog has advised the central authorities that it should create high-productivity and high-wage jobs in order to overcome the new challenges. The report has asked the government to learn from the examples demonstrated by some Asian economies such as China, Taiwan, South Korea and Singapore. It is to be noted that India, which has a large workforce and competitive wage system, has huge potential to bring down the rate of under-employment as it is being considered by several labour-intensive companies as a perfect investment location. In the report, it is also said that the import substitution strategy will help the country to acquire the growth in the way it desires. The NDA government has articulated numerous policies, with the help of the think tank, to swiftly boost the country’s economy. The new report exposes some areas which have been either omitted or forgotten during the former discussion sessions regarding the economy and employment. It is hoped that in the future, there will be more discussions around the subject.

Vignesh

Photo Courtesy : Google/ images are subject to copyright