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Technology lifted India’s productivity, but did it also depress employment?

An RBI research paper finds that sectors which witnessed a large increase in productivity growth have registered declining growth of employment and capital during 2011-19 as compared to 2001-10

January 24, 2023 / 11:38 AM IST
Technology lifted India’s productivity, but did it also depress employment?

The largest increase in jobs between 2011-12 and 2018-19 has happened in construction and trade, which are very low productivity sectors. (Representative image)

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Highlights RBI research paper says total factor productivity in the economy improved sharply in 2011-19, compared to 2001-10 In the 2001-10 period the main driver of aggregate productivity was reallocation of resources from low productivity sectors to higher productivity ones In 2011-20, technical improvements were the main driver of productivity growth However, this was accompanied by lower employment growth Total employment between 2010-11 and 2018-19 grew at a CAGR of a mere 0.43 percent, compared to 1.38 percent for the period between 2000-01 and...

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