Right to work: annual investment of Rs 13.52 Lakh Crore is needed to create full employment in India, study finds

New Delhi, October 11: The government must enact ‘right to work’ legislation and invest at least 5% of GDP, or Rs 13.52 lakh crore, annually to ensure full employment in the country, according to a study by the People’s Commission on Employment. Employment and Unemployment.

The People’s Commission on Employment and Unemployment, set up by Desh Bachao Abhiyan, on Tuesday released its study “The Right to Work: Feasible and Indispensable for India to be a Truly Civilized and Democratic Nation”. India Post Recruitment 2022: vacancies notified for 98,083 positions across 23 circles on indiapost.gov.in; Here’s how to apply.

The report states that full employment cannot be achieved through a piecemeal approach as it requires drastic changes in legal, socio-political and economic aspects. He suggested that the government enact a “right to work” law to ensure decent livelihoods for citizens. Coal India Recruitment 2022: vacancies notified for 108 medical leadership positions on coalindia.in; Here’s how to apply.

He said creating jobs for 21.8 crore people requires an investment of Rs 13.52 lakh crore per year or 5 percent of GDP (gross domestic product). He also insisted on increasing these expenditures by 1% of GDP per year for the next five years.

Currently, 21.8 million people are in immediate need of work, which excludes those benefiting from the MGNREGA rural employment guarantee scheme.

The increase in employment will lead to an increase in production as well as demand, he suggested.

Lack of resources to achieve full employment is an invalid argument because it can be self-financing, the report says, adding that it runs counter to the elites’ perception that full employment would be a negative-sum game for them .

He pointed out that currently, about 30.4 million workers have decent jobs. If a viable alternative to the current system imposed by international finance capital is developed in India, it can be a model that other developing countries can also follow, he said.

The report notes that it is possible to achieve a more civilized and democratic society by moving towards full employment. He lamented that markets not only do not guarantee full employment, especially in the short term, but also want unemployment to prevail so that the labor force remains small.

New technologies developed in advanced countries are suitable for their needs but not necessarily good for a developing country like India, the report notes.

Higher technology is believed to lead to higher profitability of a business. But it also reduces employment potential. So those who import technology and reduce employment must pay a tax that could be used to finance employment, he suggested.

(This is an unedited and auto-generated story from syndicated newsfeed, LatestLY staff may not have edited or edited the body of the content)


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