| This
paper provides a simple model of the current pattern
of India’s economic growth process, to reckon with the
fact that even an accelerating growth rate may leave
the unemployment problem completely unresolved, or even
accentuated, as labour productivity rises at a faster
rate than investment. An obvious conclusion that emerges
is that the widely-held perception that higher and higher
growth rates would eventually eradicate unemployment
in the country, is untenable. |
