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Job creation is most important for overall prosperity

By Swati Sanyal Tarafdar,

Added 18 May 2015

Writes VC NITI Aayog in his blog: "agricultural growth and the expansion of good jobs in industry and services can go hand-in-hand to bring rapid elimination of poverty and shared prosperity for all"

The NITI Aayog website can be accessed at http://www.niti.gov.in

He added, "It is in this context that the creation of good jobs in industry and services is critically important. Unless workers have the opportunity to migrate to better paid jobs in these sectors, they will be unable to fully share in the prosperity experienced by a fast-growing economy.

Thus, for example, prosperity was widely shared in South Korea and Taiwan during the 1960s and 1970s because workers in agriculture could migrate to good jobs in industry and services.

The share of industry and services in employment in South Korea rose from 41.4 percent in 1965 to 66 percent in 1980 and further to 81.7 percent in 1990. Correspondingly, the employment share of agriculture fell. A similar pattern was observed in Taiwan during the 1960s and 1970s and more recently China."

He mentioned midway through the post that "It is in recognition of these aspirations that while reorienting public investment in agriculture toward productivity-enhancing items such as micro irrigation, soil cards, effective extension services and improved seeds, the government has paid special attention to creating jobs in industry and services.

The "Make in India" campaign has provided the umbrella for many of the government's initiatives in this context."

He also mentioned reforms in the labor laws and hoped that this move will help stimulate jobs. 

He summed up saying that "agricultural growth and the expansion of good jobs in industry and services can go hand-in-hand to bring rapid elimination of poverty and shared prosperity for all."

End

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