Thought for the day
” God is not willing to do everything, and thus take away our free
will and that share of glory which belongs to us.”
-
Niccolo
Machiavelli (Italian, 1469-1527)
Word for the day
Peckish (adj)
Somewhat hungry; Rather irritable.
(Source:
Dictionary.com)
Teaser for the day
Entrepreneurship is not best always
In past two decades, since 1995, India’s economy has grown at an
average rate of 6.9%. However, the total employment in economy during this
period has grown at just 0.3% CAGR.
In this period the number of self entrepreneurs has certainly
increased in the country. This has coincided with the sharp fall in public
sector employment. The aggregate private sector employment level has not been
able to compensate for fewer opportunities available in public and
unincorporated private sector. Consequently, the total number of employees on
live payrolls has fallen sharply since early 2000’s.
The combination of two – lower employment opportunities and
liberal business rules – has perhaps forced people towards entrepreneurship
that keeps them underemployed for most of the time.
The number of self owned enterprise has swelled in past one
decade. As per 67th round of NSSO survey (June 2011), there
were 58million unincorporated enterprises in India (excluding agriculture,
construction and those registered under Factories Act).
Over 85% of these enterprises are run by the owner himself,
without any hired worker. 44% of these were run from the residence of the
owner. These enterprises employed 108mn people against just 39mn on the live
payroll in organized sectors, including 11mn in private sector. (Source: RBI,
NSSO)
There has been a definite shift in employment away from
agriculture towards manufacturing, construction and service activities. The
share of agriculture has declined continuously from 59.9 per cent in 1999-00 to
48.9 per cent in 2011-12 whereas the share of construction sector has
consistently risen from 4.5 per cent in 1999-00 to 10.6 per cent in 2011-12.
This highlights the popular
myth that MNREGA has led to reverse migration of labor to rural economy and had
adversely affected the availability of labor for manufacturing and construction
sector….to continue on Monday
No comments:
Post a Comment