A recent comprehensive report titled State of Working India 2018, published by Azim Premji University, shows a harrowing side of the Indian economy wherein 82% male and 92% female workers are paid less than ₹10,000 a month.
This is less than what is recommended in the Seventh Central Pay Commission which currently holds at ₹18,000. Most of the workers are paid less than what can be termed as a living wage.
This explains the heavy inclination and migration towards government jobs which ensures that they get paid according to the mandate of the Seventh Central Pay Commission.
According to the report, due to unavailability and low-paying jobs, India is experiencing its highest rate of unemployment in 20 years despite a steady growth in the country’s GDP.
The study found that a 10% growth in GDP resulted in less than 1% rise in employment. The ratio of GDP growth to employment growth, now, is less than 0.1.
Another shocking truth which was highlighted in the report was that India is plagued with a growing rate of open unemployment among the educated youth.
This is a direct result of underemployment and low wages offered which adds to the ever-persistent jobless growth.
Unemployment, though strewn across India, according to the report, is mainly concentrated in northern India. This comes as a blow to the people who were of the opinion that an aggressive growth in economy ensures a steady growth of employment.
You can read the full report here.