Economic growth in India has been a talking point among educationists, economists, politicians and even the college going students. Every home maker is worried about the manner in which the house chores would be running in the recent future. People go out of the house or even do some things in the home, which allows them to earn money, for their livelihood.
Employment is therefore one of the biggest necessities in the country. This employability can be in government sector, private sector, self employment or even unemployment. The last sector of people have been given the unemployment wages at a certain amount by the government of the country, especially to those people who are educated but have not been able to land up in a job. Such wages have proved to be highly beneficial as well as encouraging for people. If not to a great degree, but such a step has shown some encouragement to the people of the country, adding a bright spot in the employment scenario. But the real employment perspective is also having a better outlook.
Statistics have revealed that the agricultural sector is facing the biggest employment loss. A majority of people are losing their agricultural land since the last decade, which suggests that people who have been depending on the agriculture as the source of income have decreased by about 10 % or more. They have shifted mostly to the daily wage earning category.
Some of them have moved into the urban areas for search of employment and are working in the infrastructure industry and other services sector. Rightly so, there has been a growth in the number of people employed in the services sector and manufacturing industry. These rises have been to the extent of 5% or so in the country.
Further growth is also seen in the construction, trade and transport sector. Hospitality industries are seeking manpower in much larger quantities than any other. The salaried class people have increased significantly in the last couple of decades. There has been an almost 50% rise in the number of salaried class people in the decade from 1999 to 2009 in the country. Although the scale of pay is not very high, yet people who are dependent on the monthly salaries have grown.
But the greatest increase has been seen in the unorganized sector, which has always been the stronger side of India’s economy. Unorganized sector inIndiaconsists of the small vendors, self employed people with their small shops, roadside vendors, stalls sellers, etc. People have their own businesses and the earnings from these help in running their households.
The downside that has always faced India and has pulled back its economy to such low growth rates is the issue of population. The growth rate of population seems to dampen every growth curve, which unless stabilized, cannot be helpful for the growth of the economy. In the current scenario, Indian employment is having a huge scope of growth and with stable resources, and planning, things can look up because foreign investments are trying to cash on the stability of Indian economy.
With the growth of GDP, there is a very small relationship in the growth of employment. But still India is looking at a better economic stability in the 21st century, where people have their own sources and there is a slow but steady growth, unlike many of its counterparts such as Japan, which has the best economic growth in recent times.