Decent Work and Economic Growth
Economic growth should be a positive force for the whole planet.This is why we must make sure that financial progress creates decent and fulfilling jobs while not harming the environment. We must protect labour rights and once and for all put a stop to modern slavery and child labour. If we promote job creation with expanded access to banking and financial services, we can make sure that everybody gets the benefits of entrepreneurship and innovation.
Sustainable Economic Growth
Economic Growth
India has experienced significant economic growth in recent years, becoming one of the world’s fastest-growing major economies. However, this growth has not always translated into meaningful improvements in the quality of work and employment for all.
Informal Employment
A significant portion of India’s workforce is employed in the informal sector, which often lacks job security, fair wages, and social protection. Many workers in the informal sector are engaged in low-skilled and low-paying jobs.
Youth Employment
India has a large and youthful population, and creating employment opportunities for the youth is a crucial aspect of achieving this goal. The government has launched initiatives like “Make in India” and “Skill India” to promote job creation and skill development.
Gender Disparities
Gender disparities persist in the Indian workforce. Women often face discrimination and lower wages compared to men. Addressing gender inequalities in the labor market is essential for achieving decent work for all.
Social Protection
Expanding social protection programs is essential to ensure that workers have access to healthcare, unemployment benefits, and other safety nets, especially in the informal sector.
Labour Laws Reforms
India has made efforts to reform its labor laws to make it easier for businesses to hire and fire employees, with the intention of attracting more investment. However, these reforms have also raised concerns about workers’ rights and job security.
Sustainable Development
Ensuring that economic growth is sustainable is another aspect of this goal. India faces environmental challenges due to rapid industrialization and urbanization, and balancing economic growth with environmental sustainability is crucial.
Entrepreneurship and Innovation
Encouraging entrepreneurship and innovation can help drive economic growth and create decent work opportunities. Initiatives like “Startup India” aim to support entrepreneurship in the country.
Resilience to Economic Shocks
The goal includes the need to build resilience to economic shocks and crises, which can disrupt employment and economic growth.