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GST and demonetisation have real economic risks like skill hysteresis, demand deferring, and informal employment cratering. But thankfully, demonetisation’s biggest human risks are unrealised; there’s been no change...
India is still inadequately Formalised, Financialised, Urbanised, Industrialised and Skilled. While the regulatory challenges do pose questions on smoother business functioning and consequent job creation, there are several underlying factors which indicate that there is a lot of work to be done in employment, employability, and ease of doing business.
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The new labour codes represent a significant step toward formalising India’s workforce while also enhancing ease of doing business. At the same time, they are reshaping contract staffing from a purely cost-driven approach into a more structured, compliance-oriented workforce strategy....
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