Introduction:
Goal 8 of the Sustainable Development Agenda (SDG 8) aims to advance full and productive employment for all people, and sustained, inclusive, and sustainable economic growth. India, a developing nation with a sizable population and a diverse economy, has formidable obstacles in reaching this objective. This blog post discusses the difficulties and chances for development in evaluating India’s progress towards achieving SDG 8.
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Economic Growth in India:
With an average growth rate of 7.5% during the last ten years, India has had one of the fastest-growing major economies in the world. India had the sixth-largest economy in the world, with a GDP of $2.7 trillion in 2020, according to the World Bank. Despite this expansion, there are still wide gaps across various geographic areas and economic sectors. The COVID-19 pandemic also had a negative impact on India’s economy, which had a 7.7% decline in 2020–2021.
Employment in India:
The International Labour Organisation (ILO) estimates that there will be over 460 million people working in India by 2021, a sizeable and expanding workforce. However, the quality of employment continues to be a major concern because a sizeable section of the workforce works in low-wage, informal jobs with little social security or legal protection. Significant geographical variations in employment persist, and women and rural workers experience greater rates of underemployment and unemployment.
Labour Laws in India:
India’s labour laws are governed by a complicated and disjointed system of central and state legislation that covers a wide range of employment-related topics. While some of these rules, like those governing minimum wages, social security, and workplace health and safety, offer crucial protections for workers, others are antiquated and ineffectual. Due to insufficient enforcement and inadequate monitoring methods, compliance with employment rules is frequently poor, especially in the unorganised sector.
Initiatives towards Achieving SDG 8:
The National Rural Employment Guarantee Act (NREGA), which provides rural households with a guarantee of 100 days of wage employment, and the Pradhan Mantri Mudra Yojana, which offers loans to small and microenterprises, are just two of the initiatives the Indian government has launched to encourage decent work and economic growth. The government has also passed a number of labour law reforms in recent years, including the Occupational Safety, Health and Working Conditions (OSH) Code, 2020, which aims to enhance worker safety and working conditions, and the Code on Wages, 2019, which unifies four separate wage-related labour laws.
The Indian government has implemented a number of other efforts in addition to those described in the previous section to encourage decent work and economic development.
The National Skill Development Mission (NSDM), which intends to teach and skill 400 million people by 2022, is one such project. The mission seeks to close the skill gap in the Indian economy and increase the employability of the workforce by offering vocational training and skill development.
The 2016-launched Startup India programme, which seeks to encourage innovation and entrepreneurship in the nation, is another important endeavour. The programme offers cash assistance, tax breaks, streamlined rules, and other advantages to startups and business owners.
The Indian government has also launched several schemes aimed at promoting financial inclusion and access to credit, such as the Jan Dhan Yojana, which aims to provide every household with a bank account, and the MUDRA scheme, which provides loans to small and micro-enterprises.
The administration has also taken action to boost connectivity and infrastructure, which are essential for generating economic growth and jobs. For instance, the Bharatmala project intends to increase connectivity throughout the nation and expand road infrastructure, while the Sagarmala project aims to build port infrastructure and generate employment possibilities in the maritime industry.
In addition, the government has taken initiatives to encourage FDI and business-friendliness in the nation, both of which can support economic expansion and job creation. The government has introduced programmes like Single Window Clearance System, which streamlines the regulatory environment for companies, and Make in India, which aims to stimulate manufacturing and industrial growth in the nation.
The Indian government’s commitment to attaining SDG 8 and advancing sustainable economic growth and decent work for all is overall shown by these actions. But there is still a lot of work to be done, especially in tackling the informalization of the workforce and enhancing compliance with labour rules.
Conclusion:
With consistent economic growth and several programmes targeted at encouraging decent work and employment, India has significantly advanced towards attaining SDG 8. However, fundamental issues like the informalization of the workforce, gender and regional inequities, and lax adherence to labour rules continue to exist. Strengthening the legislative framework for worker protection, enhancing compliance and enforcement procedures, and fostering equitable and sustainable economic growth are all crucial for achieving SDG 8.
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