India needs to unleash labour reforms to create jobs:
Survey
09/07/2014 16:44
India needs to unleash second generation labour reforms and capitalise on demographic advantage for creating new firms and jobs, a government document said today, reported PTI. "It is imperative to use India's unique demographic moment wisely and unleash the second generation reforms," the Economic Survey for 2013-14 stated. The suggestion assumes significance as the employment growth during 2004-05 to 2011-12 only 0.5 per cent compared to 2.8 per cent during 1999-2000 to 2004-05, as per the reports in the media. India with a large and young population has a great advantage. The average age of the 125 billion strong country's population will be 29 years in 2020, even younger than the 37 years of China and the US, reported media. Besides, the proportion of working-age population in India is likely to increase from 58 per cent in 2001 to more than 64 per cent by 2021, adding about 63.5 million new entrants between 2011 and 2016 with a large number of young persons in the 20-35 years age group, as per the media reports.
09/07/2014 16:44
India needs to unleash second generation labour reforms and capitalise on demographic advantage for creating new firms and jobs, a government document said today, reported PTI. "It is imperative to use India's unique demographic moment wisely and unleash the second generation reforms," the Economic Survey for 2013-14 stated. The suggestion assumes significance as the employment growth during 2004-05 to 2011-12 only 0.5 per cent compared to 2.8 per cent during 1999-2000 to 2004-05, as per the reports in the media. India with a large and young population has a great advantage. The average age of the 125 billion strong country's population will be 29 years in 2020, even younger than the 37 years of China and the US, reported media. Besides, the proportion of working-age population in India is likely to increase from 58 per cent in 2001 to more than 64 per cent by 2021, adding about 63.5 million new entrants between 2011 and 2016 with a large number of young persons in the 20-35 years age group, as per the media reports.
