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Labour reforms, higher women participation to push job creation
Deregulating labour laws, encouraging MSMEs, increasing female participation in workforce and higher spending by public sector on health and education would help create more jobs and increase employability in the country, the Economic Survey 2019-20 said on Friday.
New Delhi: Deregulating labour laws, encouraging MSMEs, increasing female participation in workforce and higher spending by public sector on health and education would help create more jobs and increase employability in the country, the Economic Survey 2019-20 said on Friday.
Besides, the survey also pointed out that India needs to create 55 lakh to 60 lakh jobs annually over the next decade. The document tabled in Parliament on Friday noted that states like Rajasthan which went for deregulation of labour laws created more jobs than those which followed old legal framework.
"Deregulating labour law restrictions can create significantly more jobs, as seen by the recent changes in Rajasthan when compared to the rest of the states", it said.
It further stated that if labour force participation rate (LFPR) remains at about 60 per cent in the next two decades, about 55-60 lakh jobs will have to be created annually over the next decade. The survey strongly pitched for labour reforms for providing flexible labour laws in the country to boost job creation, especially among micro, small and medium enterprises (MSMEs).
