- EMPLOYMENT SCENARIO IN INDIA GRIM, SAYS ILO REPORT
- India Employment Report 2024
- The India Employment Report 2024 was released by two organisations:
- International Labour Organisation (ILO): It’s a specialized agency of the United Nations that focuses on labor issues globally
- Institute of Human Development (IHD): This organisation likely works on human development issues in India, but without more information, it’s difficult to pinpoint its exact background
- Youth Unemployment ○ The majority (83%) of unemployed people in India are young
- The share of educated unemployed youth has significantly risen (from 35.2% in 2000 to 65.7% in 2022)
- Educated youth have higher unemployment rates compared to others
- Labor Market Trends
- Labor market indicators (LFPR, WPR, UR) showed improvement after 2019, coinciding with economic slowdowns (interpreted cautiously by the report)
- Three main labour market indicators:
- Labour Force Participation Rate (LFPR): This measures the percentage of the working-age population that is either employed or actively seeking employment
- Worker Population Ratio (WPR): This indicates the share of the working-age population that is employed
- Unemployment Rate (UR): This represents the percentage of the labor force that is unemployed and actively seeking work
- Non-farm employment grew faster than farm employment, but not enough to absorb enough workers from agriculture
- Most new jobs are in informal sectors (construction & services) with limited social security benefits and contractual work
- Skills Gap – A large portion of young people lack basic computer and data manipulation skills
- Gender Gap – Low female labor force participation is a challenge
- Social Inequality – Scheduled Castes and Scheduled Tribes have lower access to better jobs and are more likely to be in low-paying, informal work Educational improvements haven’t eliminated social hierarchy in employment opportunities
2. THE FUNDS UNUTILISED BY CENTRAL POLLUTION CONTROL BOARD
- The Central Pollution Control Board (CPCB) is the apex organisation in India for controlling and preventing pollution Origin
- Established in September 1974 under the Water (Prevention and Control of Pollution) Act
- Further empowered by the Air (Prevention and Control of Pollution) Act of 1981
- Functions as a technical wing of the Ministry of Environment, Forests and Climate Change (MoEFCC)
- Role – Plays a central role in implementing various environmental laws and regulations.
- Provides technical assistance and guidance to the State Pollution Control Boards (each state has its own board).
- Functions – Water Pollution Control
- Advises the central government on matters related to preventing and controlling water pollution
- Sets standards for treating sewage and industrial effluents
- Monitors water quality across the country
- Air Pollution Control – Advises the central government on matters related to preventing and controlling air pollution
- Sets emission standards for vehicles, industries, and other sources.
- Monitors air quality across the country
- Other Functions – Conducts environmental research and assessments
- Coordinates activities related to pollution control with various government agencies
- Provides training and development programs for environmental professionals
- Creates public awareness about environmental issues
3. THE NEED TO CURB BALCK CARBON EMISSIONS
- Black carbon is the dark, sooty material emitted alongside other pollutants when biomass and fossil fuels are not fully combusted
- It contributes to global warming and poses severe risks
- Most black carbon emissions in India arise from burning biomass, such as cow dung or straw, in traditional cookstoves
- According to a 2016 study, the residential sector contributes 47% of India’s total black carbon emissions
- The key to enhancing the quality of life in these areas lies primarily in securing access to clean cooking fuels
- Pradhan Mantri Ujjwala Yojana (PMUY) provides free liquefied petroleum gas (LPG) connections to households below the poverty line
- Local production of coal-bed methane (CBM) gas by composting biomass
4. WIND MONITORING DEVICES TO BE INSTALLED ON BULLET TRAIN ROUTE
- Wind speed monitoring devices are set to be installed in up to 14 locations along the Mumbai–Ahmedabad high speed rail corridor.
- The wind speed monitoring device, also known as an anemometer, is designed to provide real-time wind speed data within the range of 0 to 252 kmph, and wind direction
- National High Speed Rail Corridor Limited (NHSRCL) said – The bullet train will traverse through coastal regions in the western part of the country, where wind speeds are particularly concentrated in certain areas
- These strong winds have the potential to impact train operations on the viaduct
5. RBI ACTIONS TO RESTRICT CREDIT GROWTH
- The Reserve Bank of India (RBI) has been taking stricter actions to regulate lenders in India.
- These actions aim to – Control risky lending practices by banks and financial institutions
- Improve governance and transparency in the financial sector
- Protect customers from potential harm
- While these measures are positive for the long-term health of the financial system, they might have some drawbacks
- Increased costs for lenders due to stricter compliance requirements
- Slower loan growth in the coming year (from 16% to 14%)
- Potentially higher costs of capital for lenders due to increased risk perception
- Difficulty for smaller lenders to compete in the stricter environment RBI’s actions are a trade-off between promoting a more stable and secure financial system and potentially slowing down economic growth in the short term
ONE LINER
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