Approximately 57% of regular employees are earning only ₹10,000 or less a month.
Only 1.6% of the Indian workforce is making ₹50,000 or more.
A 10% increase in GDP (Gross Domestic Product) results in less than 1% increase in employment currently.
Regardless of rapid economic growth, poor wages and pay growth remain a key challenge in India.
According to a report released by Azim Premji University, approximately 57% of regular employees are earning only ₹10,000 or less a month.
The report said, only 1.6% of the Indian workforce is making ₹50,000 or more.
It further stated that a 10% increase in GDP (Gross Domestic Product) results in less than 1% increase in employment currently.
Approximately 77%t of the families reportedly have no regular wage earner. About 58% of unemployed graduates and 62 percent of unemployed post graduates cited non-availability of jobs matching with education/skill and experience as the main reason for unemployment.
According to the National Skill Development Mission Document, as much as 97% of the workforce in India has not undergone formal skill training.
