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IASbaba’s Daily Current Affairs – 11th May, 2016

 

ECONOMICS

 

TOPIC:

General studies 2:

General studies 3:

 

Jobs & Economic Growth

Asia-Pacific Human Development Report just released by UNDP says that by 2050 more than 280 million people will enter the jobs market in India, a 33 per cent increase from current levels—but let us have a look at the numbers:

 

CARE Report: Points out that despite the economy growing at a good pace, employment seems to have grown meagrely, at 4.1 per cent and 0.3 per cent respectively in FY14 and FY15

Underemployment— Only 60.5 per cent of persons aged 15 and above who were available for work for all the 12 months were able to get work during that year (that is, earning below acceptable or sustainable levels)

Open Unemployment Rate: Looms larger over the 7 million young people who are joining the labour force (10 times higher than that for those 30 years and above)

Unemployment for (in 2013)

Core physical sectors such as manufacturing, mining, construction and non-financial services had negative employment growth ranging from minus 3.8 per cent to minus 17.4 per cent in FY15

 

Creation of Jobs:

 

Increase in infrastructure investment

Present: 1.35 lakh jobs were created in 2015 (lowest figure since 2008)

Slow pace of job growth

  1. While the share of organised sector jobs is increasing, most of the job increases are still taking place in the unorganised segment of industry and services, and in informal jobs
  1. While construction had been booming from 2000 to 2012, its growth dipped since 2012, and has begun to revive only since late 2015 as infrastructure investment revived. Since 2004-2005, for the first time in Indian history, 5 million agricultural workers have been leaving agriculture per annum, being mostly absorbed in low-skilled construction employment. With infrastructure investment tapering off during the fiscal years 2012-2013, 2013-2014 and 2014-2015, construction employment growth is likely to have fallen sharply, compounding the already greater rural distress caused by drought in 2014 and 2015.
  1. Education enrolment levels of youth joining the labour force have been increasing every year since 2010 or so. As a result, secondary gross enrolment ratio has increased from 62 to 79 per cent between 2010 and 2014. The educated youth are unlikely to join agriculture and will look for non-agricultural jobs in urban areas. The revolution in rising expectations is already causing social movements (the Patel and Jat agitations in Gujarat and Haryana, for instance).

Refer: http://iasbaba.com/2016/02/iasbabas-daily-current-affairs-23rd-february-2016/

http://iasbaba.com/wp-content/uploads/2016/02/Jat-Reservation-IASbaba.jpg

 

Schemes—

Ministry of Labour is finalising the scheme to offer to pay 8.33 per cent of the salary as contribution for a pension scheme for new employees getting formal sector jobs. The scheme will be applicable to those with salary up to Rs.15,000 per month

Ministry of Commerce is customising incentives for labour-intensive export sectors

Stand-Up India scheme

Way Forward:

Connecting the Dots:

 

Refer: http://iasbaba.com/wp-content/uploads/2016/04/Unemployment-Stagnant-Economy-IASBaba.jpg

 

 

NATIONAL

 

TOPIC:

General studies 2:

General studies 3:

 

Online voices of offline people

Background:

 

What does above mentioned data indicate?

 

Is access to media only related to gender discrimination or does the discrimination go beyond gender? 

 

What role does being economically weaker, caste, place of residence, and religion play?

 

Can digital media change the way news and views disseminated and act as alternate media and reduce the ill effects of mainstream media?

 

What are the challenges and opportunities of the digital media?

 

Way ahead:

 

Connecting the dots:

 

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