Declining Utilization of Workforce in India
Published: 2019
Author(s) Name: Neelam Singh, Surabhi Saxena, Anuradha |
Author(s) Affiliation: Associate Professor, HOD Economics, VMLG (PG) College, Ghaziabad, Uttar Pradesh, India.
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Abstract
Proper utilization of workforce ensures the development
of all the nations of the world. It is the resource
which guarantees the utilization of different factors of
production and gives a boost to growth and development
of nations. It is important for all the nations of the world
to take care of its workforce and its employability, if
they wish to develop their economy in long as well as
short run. India has become the youngest nation of
the world and possesses the demographic dividend.
But, the demographic dividend of India is not being
utilized properly. India does not possess the required
amount of capital formation to engage the increase in
the workforce of the Indian economy. The workforce
participation rate in India is lower than in most countries
in the world. If taken in absolute terms also, it is lowest
in the present decade as well. Almost 50 percent of
the population of India does not contribute anything to
the economic development and is dependent on the
rest of the population which is employed. If this trend
of decline in workforce, participation rate continues for
some more years than the Indian economy may have
to face serious consequences. It is with this imperative
that the present paper highlights the present and past
trends of workforce participation rate of India and
presents the true picture of the situation.
Keywords: Workforce, Employment, Growth
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