Department of Economics and Finance
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Item Youth Labour Market in India: Opportunities and Choices(IGI Global, 2020) Krishna, M.Sustainable Development Goals (SDGs) 2030 prioritizes active engagement of youth in achieving the targets. Aligning the pathway towards achieving youth specific SDGs (Target 4.4 and 8.5), the study examines the current situation of the youth labour market in India. For this purpose, the study analyzes National Sample Survey data on employment and unemployment from 50th round (1993/94) to 68th round (2011/12). The study engages trend analysis of key indicators of labour market. Logistic regression is applied to address the magnitude of socio-economic and demographic determinants on youth employment. The study finds an overall decline in the employment status of youth despite the ongoing demographic dividend phase. Postgraduate and graduate youth witness the highest unemployment indicating a grim role of labour market in engaging the educated youth. The findings raise concern for achieving the targets of SDGs, as a high share of educated youth strives for decent and gainful employment.Item Employment in India: Emerging dynamics(World Economics Ltd, 2014-12) Krishna, M.The growth of employment has become a matter of grave concern in India for the past two decades. This paper – based on the unit-level data of the 61st and 66th quinquennial rounds on employment and unemployment released by the National Sample Survey Organisation (NSSO) in 2005 and 2010, respectively – pinpoints some of the emerging issues and dynamics in various segments of the Indian labour market. It finds that, notwithstanding India’s average annual growth of more than 8% and compound annual population growth of 1.4% between 2004/05 and 2009/10, the workforce grew at a snail’s pace, hovering around 0.03% per annum. What is striking is that, considering the workforce by sex, about 21 million female workers, approximately equivalent to the population of Australia, were out of the workforce between 2004/05 and 2009/10. Interestingly, segregating the workforce by rural–urban sector, it would seem that, contrary to a quantum leap of 13 million in the rural male workforce, the rural female workforce recorded a decline of 19 million during the same period, of which scheduled tribe, scheduled caste and other backward class combined to add up to a significant proportion. Interestingly, a precipitous increase in the number of females attending educational institutions and domestic duties accounted for a large-scale decline in the female workforce. The findings presented in this paper point to the need for a concerted effort to mitigate widening gender disparity and shrinkage of the female work participation rate in India.Item Is there a trade-off between energy consumption and employment: Evidence from India(Elsevier, 2020-05) Krishna, M.Following India’s efforts to mitigate the emission of greenhouse gases, there has been a transition from fossil fuels to clean energy sources, such as solar and wind, in the energy portfolio. The renewable energy sector is widely acknowledged as a fertile ground for employment creation, as it is labour-intensive. Against this backdrop, the main objective of this paper is to provide an empirical explanation of how the growth of renewable energy sources, particularly solar photovoltaic (PV) technology, affects employment creation in India. The findings reveal that, despite a substantial investment in India’s solar PV technology, the number of jobs created by the sector declined marginally from 164000 in 2017–114000 in 2018. India’s estimated employment elasticity is just 0.004, implying that the level of employment does not show a significant positive response to changes in installed capacity. Almost 60 per cent of the global solar PV workforce is in China, which has become the leading country both in terms of installed capacity of global solar PV technology and manufacturing of solar PV cells and modules. The wide disparity in solar PV employment between India and China is explained by the former’s excessive dependence on China for solar PV cells. Alongside climate conservation, India should, therefore, place more emphasis on revitalising the domestic solar manufacturing industry to bring about efficient use of the nation’s untapped resources.Item The Emerging Dynamics of Informal Employment(World Economics Ltd, 2021-06) Krishna, M.Informal employment accounts for a significant proportion of the workforce in less-developed economies, particularly India, and has grown steadily in the past two decades. Using unit-level data from three consecutive employment and unemployment surveys conducted by the National Sample Survey Office (NSSO) in 2004–5, 2011–12 and 2018–19 (PLFS), we investigate the emerging dynamics of formal and informal employment in Maharashtra, India. This article highlights: a significant increase in the share of women performing unpaid domestic work; uneven distribution of the status of employment in rural and urban Maharashtra; the burgeoning size of the working poor, who earn barely enough wages to obtain a decent living; and inadequate coverage of formal employment in the economy. From a policy perspective, we argue that the state should aim at restructuring employment status and labour laws by infusing more skill to trigger an upward spiral of higher productivity, which will catapult the economy to a desirable trajectory, as well as facilitate and foster inclusive growth.