World bank report on low female labour force participation
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Written By – Mitali Merchant
The world bank released a report that emphasized on low female labour force participation. this rate has been declining since 2005.
India ranked 120 out of 131 countries the data for which was available.
World Bank’s India Development Report said that even among countries with similar income levels, India is at the bottom, together with Yemen, Pakistan and Egypt. The World Bank reported that approximately two-thirds of Indian women with college degrees are without jobs. The unemployment rate for educated graduates is far higher than that in Bangladesh, Indonesia and Brazil.
The issue of women empowerment is being highlighted by Indian leaders and this report is a major set back in India’s development.
A low female labour force participation rate also tampers GDP and is also an obstacle towards achieving a higher growth path, the report said that India needs to create safe, flexible and well-paying jobs for a large number of women who are currently not in the labor market.
“Three of every five prime working age Indian women (26-45 years) are not economically active, meaning that they are neither working on a farm or in businesses nor are they earning any wage,” the World Bank says.
Since taking office in 2014, Prime Minister Narendra Modi has launched a program for skills development and also set up a subsidized loan scheme for businesses led by women.
He has unveiled a near $1 billion fiscal package for the textile sector, aiming to create more jobs for women.