India has to invest Rs 13.52 lakh crore year to achieve full employment, according to a study

According to a report by the People's Commission on Employment and Unemployment, the government must pass "Right to Work" legislation and spend at least 5% of the GDP, or Rs 13.52 lakh crore, annually to guarantee full employment in the nation. Tuesday saw the publication of the report "Right to Work: Feasible and Indispensable for India to be a fully Civilized and Democratic Nation" by the Desh Bachao Abhiyan-established People's Commission on Employment and Unemployment.

According to the paper, full employment cannot be attained by a piecemeal strategy because it calls for significant adjustments to the legal, sociopolitical, and economic spheres. To ensure that citizens have a good standard of living, it was suggested that the government pass a "Right to Work" statute.

It indicated that investments totaling Rs. 13.52 lakh crore annually, or 5 percent of GDP, are necessary to provide jobs for 21.8 crore people (gross domestic product). Additionally, it emphasised the need to raise this expenditure by 1% of GDP annually over the following five years. 21.8 crore individuals, excluding those who receive benefits from the MGNREGA rural job guarantee plan, currently require employment immediately.

It was noted that at the moment, 30.4 crore workers have legitimate jobs. It was stated that if a viable alternative to the current system imposed by foreign finance capital could be developed in India, it may serve as a model for other developing countries.

The research stated that it is doable to move toward full employment in order to create a more civilised and democratic society. It regretted that markets, in addition to not ensuring full employment, particularly in the near term, also actively seek out unemployment to maintain a weak labour force.

The paper observed that while new technology being developed in developed nations is suitable for their purposes, it may not be advantageous for a developing nation like India. Higher technology is meant to increase a company's profitability. However, it also reduces employment prospects. Therefore, it was argued, those that import technology and cut employment should pay a tax that might be used to finance employment. Higher technology is meant to increase a company's profitability.