This paper looks into the unique problem of rapid economic growth without improvement of employment situations which is plaguing India today. Despite achieving high growth rates and increasing per capita national income figures, the country has witnessed increasing inequalities, a rising agrarian crisis and a fall in nutritional levels; all of which point to the fact that there has been a dearth of generating ‘decent work’ in the country. The author argues that neo-liberal economic policies of trade and financial liberalization, coupled with the exercise of fiscal prudence by the state, have resulted in a situation where employment generation has been the worst victim.

March 10, 2007.