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What is a Contractionary Policy?

Contractionary Policy refers to the monetary policy which aims to slow down the economy by introducing a reduction in money supply for lesser money and investment. There are many economic tools used by the Central Bank of every nation like CRR, SLR, Repo, Reverse Repo, Interest Rate etc. to keep a check on the volume […]

Labour Bureau Survey and Issue of Low Job Creation

The most recent quarterly survey by the Labour Bureau showed India created only 1.35 Lakh jobs in 2015 in comparison to 9 Lakh in 2011 and 4.19 Lakh in 2013. This indicates that the days of jobless growth are back and India would be far from reaping the demographic dividend. Questions & Answers Why this […]

Unemployment in India

There are five sources of employment / unemployment statistics in India viz. NSSO, Economic Census, Employment Market Information Programme of DGET, Registrar General of India and Labour Bureau.  The NSSO (National Sample Survey Office) releases its survey-based employment results every five years. It includes both organised and unorganised sector employment. Central Statistics Office (CSO) releases […]

Types of Unemployment

There are several kinds of unemployment rate as follows. Open Unemployment Open unemployment is a condition in which people have no work to do. They are able to work and are also willing to work but there is no work for them. They are found partly in villages, but very largely in cities. Most of […]

Concepts Related to Labour Force

Labour Force refers to the number of persons actually working or willing to work. However, workforce refers to the number of persons actually working. Thus, workforce does not account for those who are willing to work. The difference between labour force and workforce is the total number of unemployed persons. Number of Persons unemployed = […]

Underdevelopment: Concept and Meaning

World Development Report categorizes economies on the basis of income in three categories viz. high income, middle income and low income economies. Usually, high income countries are known as developed / advanced economies while low income countries are known as underdeveloped economies. Developed or advanced economies are also characterised by high standard of living, universal […]

Self Employment and Talent Utilization Scheme (SETU) Scheme

SETU or Self Employment and Talent Utilization Scheme has received a thumbs up from various sectors and segments of economy. It has come as a boon for young entrepreneurial minds who are struggling to plug in the gaps of cash. It has been specifically launched to boost breakthrough technical start-ups by bringing their ideas into […]

The Higher Education Conundrum

Higher education is critical for developing a modern economy, just society and a vibrant polity. It equips the young people with skills relevant for labor market and opportunity of being absorbed to prominent positions. It provides people already in employment with skills to negotiate rapidly evolving career requirement. It prepares its citizens as responsible citizens […]