Labour Markets In India: Informality and Inequality
Introduction India is a country with widely prevalent poverty but which has experienced fast growth in the last six years. Since 2003, the economy has grown at an average of 8.6 per cent a year, compared to 5.7 per cent in the decade between 1993-94 and 2002-03. At the same time, 42 per cent of India’s population lives on less than US$1.25 a day in 2005 (Ravallion, 2008), down from 60 per cent 25 years earlier. Even though the absolute number of people living below US$1.25 a day rose from 421 to 456 million between 1980 and 2005, economic growth has nevertheless been important for poverty reduction.