Creation Of Quality Jobs, Underemployment, Income Inequality Are Key Challenges For India: OECD

The Paris-based inter-governmental economic organisation, the Organisation for Economic Co-operation and Development (OECD), has said that creation of quality jobs, underemployment and income inequality remain challenges in India.

These are among the key findings of OECD’s Economic Survey of India, 2019, which was released on Thursday. While it expressed optimism about growth, which was projected to recover, there are risks to the outlook.

OECD is an international organisation that works to build better policies for better lives. Its goal is to shape policies that foster prosperity, equality, opportunity and well-being for all.

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It said that the employment rate had declined and was low, especially for women. When women have jobs, they are often paid less. Labour laws were complex; some were particularly stringent for industrial firms, and most of them kicked in when firms grew, deterring formal job creation. In practice, most workers were not covered by the core labour laws and social security. Recent efforts to streamline labour regulations into four codes was welcome. “To boost job creation and, thus, improve equity, efforts to modernise labour regulations should continue,” the survey advised.

Source: Business Line

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