Reverse transition of Indian workers back to agriculture
As a result of a decrease in the number of non-farm opportunities across the industry, economic body, Crisil states that as many as 12 million workers may shift back to agriculture, reversing the trend that the economy has seen in the past few years. As a result of lesser job creation, and the slowing down of the GDP, the growth in India is likely to remain jobless in the coming times. The percentage increase in employment for every percentage point increase in GDP in the non-farm sector in India has been 0.38% between 2004-05 and 0.52% during 1999-00 and 2004-05.
As a result of a decrease in the number of non-farm opportunities across the industry, economic body, Crisil states that as many as 12 million workers may shift back to agriculture, reversing the trend that the economy has seen in the past few years. As a result of lesser job creation, and the slowing down of the GDP, the growth in India is likely to remain jobless in the coming times. The percentage increase in employment for every percentage point increase in GDP in the non-farm sector in India has been 0.38% between 2004-05 and 0.52% during 1999-00 and 2004-05.
Read the Economic Times news report here.
