"...This week, the Niti Aayog, at the behest of the government, announced the creation of a taskforce for job creation. In a sense, the need to create the task force underlines the fact that job creation is an economic and political imperative. The challenge of job creation is located in complex circumstances—ranging from inadequacy to absence of data, on jobs created and of skills needed, of supply and demand of services/goods and skills.
At a strategic level, there is an embedded bias towards creating particular kind of jobs—in manufacturing, through exports. The question that needs to be asked is, given the state of aging in the developed world, whether there is room for another China story—and can India match Chinese cost competitiveness that has contributed to global goods price disinflation.More critically, discourse has been waylaid by approach—both conceptual and structural. The conceptual flaw is the confusion of objectives and outcomes. A moot point is whether job creation is the objective, or should job creation be the byproduct, the natural outcome of policies? The focus needs to be to resolve the many issues that confront the people..."
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