India needs Rs 13.52 lakh cr annual investment to create full employment: Study https://www.businesstoday.in/jobs/story/india-needs-rs-1352-lakh-cr-annual-investment-to-create-full-employment-study-349576-2022-10-11
creating employment for 21.8 crore people needs investment of Rs 13.52 lakh crore per annum or 5 per of the GDP (gross domestic product). Increasing employment will result in greater production as well as demand, it suggested.
Shortage of resources for achieving full employment is an invalid argument since it can be self-financing, the report said, adding that this runs counter to the elite perception that full employment would be a negative sum game for them.
New technology being evolved in the advanced countries is appropriate for their needs but not necessarily good for a developing country like India, the report noted.
Higher technology is supposed to lead to higher profitability of a company. But it also lowers the employment potential. So, those who import technology and reduce employment need to pay a tax which could be used to finance employment, it suggested.
Executive Summary of Employment Report: 'Right to Work: Feasible and Indispensable for India to be a truly Civilized and Democratic Nation' https://1drv.ms/b/s!AiXYIRE1zsiagYVSHaDvaz5Tz0UfAA?e=1BmRrq
Jobs for all: India needs ₹1.35tr a year October 12, 2022 https://news.boringnews.co/story/2022-10-12-7a-india-needs-135trn-pa-for-full-employment-status The report stated that full employment cannot be achieved through a piecemeal approach as it requires changes in the legal, socio-political and economic aspects.