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Question
“In the late 1990's India experienced a widening gap between the growth of GDP and employment generation”. Discuss.
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Solution
Yes, Inclia noted a widening disparity between GDP growth and employment generation in the late 1990s.
Reasons:
- India suffered jobless growth, that is, economic expansion without significant job creation.
- India implemented economic reforms, one of which was globalization.
- MNCs were mostly responsible for growth. Instead of employing people, these businesses made use of cutting-edge technology. It resulted in the economy experiencing jobless growth.
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