Sustainable Development Goal 8: Decent work and economic growth in India

Economic growth, as measured by the annual growth rate of per capita Gross Domestic Product (GDP) at constant prices, varies significantly across Indian states. Goa leads with an impressive 13.8% growth rate, followed by Telangana (8.4%) and Tripura (8.8%). However, some states like Manipur (0.7%) and Mizoram (1%) show much lower growth rates, indicating regional disparities in economic development.

The Ease of Doing Business (EODB) scores reveal considerable variations in the business environment across states. Andhra Pradesh (52.4), Uttar Pradesh (50.1), and Telangana (48.6) have the highest scores, suggesting they have created more business-friendly environments. In contrast, several states, including Arunachal Pradesh, Manipur, and Nagaland, score 0, indicating significant room for improvement in their business regulations and processes.

Unemployment rates in the 15-59 age group also show notable differences. While states like Chhattisgarh (2.6%) and Meghalaya (2.8%) have relatively low unemployment rates, others like Nagaland (18.5%) and Lakshadweep (32%) face significant challenges in job creation. The national capital, Delhi, also has a higher than average unemployment rate at 10.7%.

Labor Force Participation Rates (LFPR) for the 15-59 age group vary widely. Himachal Pradesh leads with 72.1%, while Bihar has the lowest rate at 41.4%. This disparity suggests differences in workforce engagement across states, which could be influenced by factors such as education levels, cultural norms, and economic opportunities.

The data on regular wage or salaried employees in the non-agriculture sector without social security benefits is concerning. In many states, over 50% of these employees lack social security benefits, with Punjab having the highest percentage at 70.3%. This highlights a significant decent work deficit and the need for policies to extend social protection to informal workers.

Financial inclusion, as measured by households covered with a bank account under the Pradhan Mantri Jan Dhan Yojana (PMJDY), shows impressive progress. Most states report 100% coverage, indicating successful efforts in expanding access to banking services. However, the percentage of women account holders under PMJDY varies, ranging from 30.8% in Daman & Diu to 59.9% in Rajasthan, suggesting a need for focused efforts on financial inclusion for women in some regions.

The availability of banking infrastructure, measured by the number of functioning branches of commercial banks and ATMs per 100,000 population, shows significant variations. Goa leads in both metrics, with 45.8 bank branches and 63.6 ATMs per 100,000 people, while states like Bihar lag behind with only 6.4 branches and 6.8 ATMs per 100,000 people.

In conclusion, this data reveals that while India has made progress in some areas related to SDG 8, such as financial inclusion, there are significant challenges and regional disparities in economic growth, employment, decent work conditions, and banking infrastructure. Addressing these disparities through targeted policies, improving the business environment in lagging states, extending social security coverage to informal workers, and enhancing job creation efforts, especially in states with high unemployment rates, could be crucial steps towards achieving the goal of decent work and economic growth across India. Additionally, efforts to increase women’s participation in the formal banking system and improve banking infrastructure in underserved areas could contribute to more inclusive economic growth.