Higher women share in labour force to lift India’s growth rate: World Bank
India’s economy could achieve double-digit growth if it pushes New Delhi reforms to increase women’s participation in the workforce in the country, a World Bank report said on Monday.
These reforms raise household incomes and reduce poverty, in addition to creating better health and education conditions for the children of women, he said.
Asia’s third largest economy has increased by 7% over the last three years. Policymakers aspire to imitate the Chinese miracle of double-digit growth over three decades has greatly reduced poverty and rising per capita income by not.
The share of working women in India fell to 27 percent in 2011-2012 – among the lowest in the world – nearly 40 percent in the 2000s.
If one-third of this decline was due to better education opportunities for girls in the 15-24 age group, the remainder is due to India’s inability to create enough jobs in manufacturing and services sectors .
Emphasizing the seriousness of the situation, the World Bank said that almost two-thirds of Indian holders of a university degree have no job. The unemployment rate for graduates is much higher than Bangladesh, Indonesia and Brazil.
The report urges the government of India to adopt a strategy of stronger export growth for women and labor, along the same lines as in Bangladesh. She also called on New Delhi to improve connectivity to work and support women entrepreneurs to create more jobs for women.
Since taking office in 2014, Prime Minister Narendra Modi has launched a skills development program and a subsidized loan scheme has been established for women-run businesses.
A fiscal package of about $ 1 billion was released for the textile sector, to create more jobs for women.
To improve flexibility for women, the Indian Parliament recently passed a law that doubled maternity leave and allowed workers to work from home.