ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

Arun MairaSubscribe to Arun Maira

Jobs, Growth, and Industrial Policy

Employment, jobs, and good livelihoods are the principal means for ensuring the inclusion of people in the economic growth of a country. India's planners have focused too much on gross domestic product growth and too little on how it has not translated into more jobs. With the largest population of young persons in the world, merely providing youth with skills will not be sufficient. More urgent attention is required to promote the growth of enterprises, especially smaller ones that provide more employment. An understanding of the real constraints on growth of enterprises and a rapid resolution of them requires a collaborative approach between employers, employees and other stakeholders.

India's 2% CSR Law

Business persons have always been concerned with their own ends, but multiple pressures from society and polity over time have forced them to sit up and worry about their means of profit as well. The need today is genuine business responsibility and societal trust in business. Mandatory corporate social responsibility may prove inadequate to inculcate either. The new legislation to mandate expenditure for social causes is both meagre and one whose time had long passed - almost as if India has progressed, but "backwards".
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