India 's Achieving The Millennium Development Goal Essay

India 's Achieving The Millennium Development Goal Essay

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India in its 12th five year plan has set the only ambition of “inclusive growth” with a view to ensure a holistic approach with regard to the growth of common man or the “Aam Aadmi” at the centre of every policies and politics. The nation is also committed in achieving the Millennium Development Goal (MDG) where the target is to accomplish per capita income, human development index, poverty and also to eradicate the unemployment (reserved army).
With the current scenario of the country’s population (1.252 billion and still rising) coupled with inflation and poverty, the rate of participation in the workforce is increasing at a rapid pace. The country is habitat of 487 million workers, second after china where few percentage of population is indulged in the organized sector known as the white collar job creating education and skill as one of the most essential criteria having easy and fast job opportunities. This section of workforce from the formal sector benefits from several social and economical assistances such as; provident funds, salary hike, insurance, health and maternity benefits etc. This rosy depiction is about only one side of coin whereas the other till today remains as the deprived and marginalized is labeled as the unorganized or informal sector. It covers the maximum population of workforce both in India and around the globe. In India around 93.6% or 455 million of the total labour participation is covered by the unorganized sector that is; home based workers, rag pickers, street vendors, landless agricultural labours, fishermen, building and construction workers etc.
Every person be it a man or a women, whenever enters the labour force thinks to protect oneself and one’s family from every insecurities where at f...


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One of the classic example for pension scheme which covers all and is easily accessible to is of Chile, as it has a well planned scheme called as individual retirement plans were worker contribute 10% of their earning to a retirement saving accounts under a pension fund managers of a private sector Administradoras de Fondos de Pensiones (AFP), this AFP invests the pension contribution. Study shows Chile’s private pension scheme yields 87% of workers’ salaries where 73% of pension amount comes from profit made on investments, with only 27% contribution from the workers.
If the nation upgrades the pension scheme and covers all the people of the unorganized sector, the GDP will increase rapidly as cash will flow in the market and will be accountable in making human capital affirmative as earlier there was no accountability of unorganized workers and their income.

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