Mitra Speaks with Bloomberg on Unemployment, Protests in India

July 11, 2022

Bloomberg

Labor

Bloomberg

Devashish Mitra

Government reforms aimed at reducing unemployment in India instead led to violent protests of President Modi's new policy to reduce military contracts for newly enlisted soldiers from 15 to four years—and to eliminate retirement benefits. Devashish Mitra, professor of economics and the Gerald B. and Daphna Cramer Professor of Global Affairs told Bloomberg News that another way to address the problem would be to incentivize private employers to create jobs faster. “The solution really is factor-market reforms,” he said, referring to the resources that companies need to produce goods and services. “Otherwise, there are likely to be continuing protests, that might fuel economic instability.”

Read more in the Bloomberg article "Burning Trains Reveal Wrath of Millions Without Jobs in India."