outline the trends in employment elasticity in agriculture versus non agriculture in India over the period 1993 to 2005.
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Explanation:
Among the first five periods, agriculture was the main contributor in two (1977-78/1983, and 1987-88/1993-94) and important in one (1999-00/2004- 05). ... Thus, from 2004-05 onwards, aggregate employment elasticity is being driven by the non- agricultural sectors, especially manufacturing.
Answer:
The years between 2004-05 and 2009-10 saw some of the highest rates of gross domestic product (GDP) growth for India. The problem, however, is that this high growth hasn’t led to more jobs. Employment elasticity—which is a measure of how employment varies with economic output—has come down dramatically.