Analyse the growth of GDP and changing structure of Employment .
Answers
Answer:
During the period 1960-2000, Gross Domestic Product (GDP) of India grew positively and was higher than the employment growth. However, there was always fluctuation in the growth of GDP. During this period, employment grew at a stable rate of about 2 per cent.
Explanation:
During the period 1960-2000, Gross Domestic Product (GDP) of India grew positively and was higher than the employment growth. However, there was always fluctuation in the growth of GDP. During this period, employment grew at a stable rate of about 2 per cent.
Answer:
Growth of Employment & Gross Domestic Product (GDP)
Fifty years of planned development have always aimed at the expansion of the economy through an increase in national product and employment
During 1950-2010, the GDP of India grew at a positive rate and was higher than the employment growth at that moment at a time.
There was always a lot of fluctuation in the growth of GDP, but employment grew at a positive rate, but not more than 2 %.
However, in the late 1990s, there was a decline in employment growth and reached the level of growth that India had in the early stages of planning.
During this time period, the economy witnessed the trend of ‘Jobless Growth’ as the gap between the growth of GDP and employment was enlarging.
A situation when the economy is able to produce more goods and services without a proportionate increase in employment opportunities is known as Jobless Growth.
In other words, it is a situation when there is an overall acceleration in the growth rate of GDP in the economy without corresponding expansion in employment opportunities.
Changing Structure of Employment
As we all know, India is an agrarian nation. The majority of India’s population lives in rural areas and is dependent on agriculture for livelihood. The developmental strategies in many countries, including India, have always targeted at reducing at the proportion of people depending on agriculture.
74.3% of the workforce was engaged in the primary sector in 1972-73, which declined to 44.6.% in 2017-18. A noticeable shift from farm work to non-farm work was witnessed.
Secondary and service sectors are showing a promising future for the Indian workforce, as shares of these sectors have increased from 10.9% to 24.4% and from 14.8% to 31%, respectively.
Explanation: