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Economic liberalisation in India, initiated in 1991, marked a paradigm shift in the country’s economic policy, transitioning from a protectionist, state-controlled economy to a market-oriented model. The liberalisation program involved significant reforms including deregulation, reduction of import tariffs, privatisation of public sector enterprises, and opening up to foreign investment. While these changes spurred economic growth and integration into the global economy, their impact on employment and inequality has been complex and multifaceted, warranting a critical examination. One of the central promises of economic liberalisation was to enhance efficiency, productivity, and overall economic growth, which in turn was expected to generate employment opportunities. In terms of aggregate growth, the Indian economy indeed witnessed remarkable expansion post-liberalisation. GDP growth accelerated from an average of around 3.5% during the pre-reform decades to over 6% in the post-reform period. Sectors such as information technology, telecommunications, finance, and services experienced unprecedented growth. However, this expansion was not evenly distributed across sectors and regions, and its capacity to generate adequate employment—especially in the formal sector—remained limited. The most notable employment-related trend in the post-liberalisation era is the phenomenon of "jobless growth." Despite impressive GDP numbers, employment generation lagged behind. The organised sector, which is crucial for providing secure and well-paid jobs, did not expand proportionately. A major reason was the capital-intensive nature of growth, particularly in manufacturing and services. Large corporations, aided by technology and automation, increased productivity without significantly increasing labour demand. Consequently, employment elasticity of output declined. The unorganised sector continued to absorb the majority of the workforce, but under precarious conditions. Informal employment rose, characterised by low wages, lack of social security, poor ___ _____ ___ _____ _________.
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