Labor & Demographic Economics

* The number of children born per 1000 people in the population in a year. This describes the crude birth rate, not the total fertility rate. * The number of children born to a couple in their lifetime in a given population. This is close but not quite accurate. The total fertility rate is calculated for women, not couples. * The birth rate minus death rate. This defines the rate of natural increase, which indicates population growth, not fertility. * The average number of live births a woman would have by the end of her child-bearing age. This is the correct definition of Total Fertility Rate (TFR). It's a hypothetical measure assuming a woman lives through her childbearing years and experiences the age-specific fertility rates of a given period. * In simple terms, TFR tells us the average number of children a woman would have if current birth trends continued.

* Italy and Japan are often cited as prime examples of countries with rapidly ageing populations and very low birth rates. Both countries have been grappling with the economic and social consequences of these demographic trends for several years. * South Korea has also emerged as a country with significant demographic concerns. Its fertility rate is one of the lowest in the world, and its population is projected to start declining in the coming years. * Nigeria and South Africa, while facing their own set of demographic challenges, are generally not highlighted for low birth rates or declining populations. Nigeria has a very young and rapidly growing population. South Africa’s population growth has slowed in recent years, but it is not yet experiencing a decline.

In India, the primary agency responsible for compiling information on industrial disputes, closures, retrenchments, and lay-offs in factories employing workers is the Labour Bureau The Labour Bureau is an attached office of the Ministry of Labour and Employment, Government of India. It plays a crucial role in collecting, compiling, and disseminating labor statistics across various aspects, including industrial relations.

Statements 1 and 3 are correct. Vietnam’s open economic policy of recent years integrating into global supply chains has made the growth success story possible. Vietnam's export-led growth strategy and global integration are among the key factors behind the country's remarkable achievements in growth and poverty. Vietnam was one among the few countries to post GDP growth rate figures in 2020 when the pandemic hit. Vietnam is projected to be the fastest-growing internet economy in Southeast Asia in the next 10 years. Statement 2 is not correct. Vietnam is a one-party communist state, not a multi-party parliamentary democracy. Statement 4 is correct. Thanks to an abundance of low-wage labour, Vietnam's manufacturing sector grew at a compound annual growth in the last decade. As the rest of East Asia developed and wages there rose, global manufacturers were lured by Vietnam's low labour costs and stable exchange rate. Hence, Statement 5 is not correct. According to the Asian Development Bank Report, e-services including digital financial services are at a very nascent stage in Vietnam.

Statement 1 is not correct: The Government had launched a scheme viz Casual Labourers (Grant of Temporary Status and Regularization) Scheme of Government of India, 1993. As per the scheme, Temporary status would be conferred on all casual labourers who were in employment and who have rendered a continuous service of at least one year, which means that they must have been engaged for at least 240 days (206 days in case of offices observing 5 days week). Statement 2 is correct: The Supreme Court has decreed that casual workers are also entitled to social security benefits as stipulated in the Employees Provident Funds and Miscellaneous Provisions Act. The Court's ruling stemmed from its interpretation of Section 2(f) of the EPF Act, wherein the definition of an "employee" encompasses a broad scope, including any individual engaged directly or indirectly in connection with an establishment's work and receiving wages. A bench of the Supreme Court affirmed this viewpoint. Statement 3 is correct: The government has the authority to specify through a notification that an establishment or industry is obligated to disburse wages exclusively via its bank account.

Statement 1 is incorrect. After the 1991 economic liberalization, worker productivity increased both in urban and rural areas. While urban areas experienced higher growth, rural areas also saw improvements, especially with the rise in non-farm activities. Statement 2 is incorrect. The percentage share of rural areas in the workforce has steadily decreased since liberalization. This is because more people have moved to urban areas for employment in the industrial and service sectors, contributing to the growing urban workforce. Statement 3 is correct. In rural areas, the growth of the non-farm economy increased significantly. With liberalization, the diversification of rural economies into sectors like manufacturing, construction, and services grew, reducing the dependency on agriculture. Statement 4 is correct. The growth rate in rural employment decreased after 1991. While the rural economy diversified, the agricultural sector did not provide enough employment opportunities to absorb all the labor, leading to lower growth in rural employment. Hence, option B is the correct answer.

Statement 1 is correct: Fixed-term employment and ease of layoff. The amendment introduces the concept of "fixed-term employment" for the first place. While it doesn't automatically make layoffs easier, it allows companies to hire for specific projects or periods without them becoming permanent employees. This can potentially make restructuring or downsizing during economic downturns easier for companies with fixed-term employees compared to permanent ones (who have greater job security). Statement 2 is correct: Notice period for temporary workmen.
The amendment clarifies that no notice period is required to terminate the employment of a "temporary workman," which is someone hired for a specific, non-continuous job or for a short period.

The Maternity Benefit (Amendment) Act 2017 has made several significant changes to benefit women employees - Paid maternity leave has been increased to 26 weeks from 12 weeks. - For women expecting after having 2 children, the leave duration remains at 12 weeks. - Establishments employing 50 or more employees must provide a crche facility, and women employees should be allowed to visit the facility 4 times during the day.

Human capital formation refers to the process of increasing the stock of knowledge, skills, and experiences that people in a country possess. This intangible wealth is what makes a workforce productive and adaptable.
Therefore, statement 2 and 4 are correct.

The Hind Mazdoor Sabha (HMS) wasn't founded by a single person, but by a group of socialists, Forward Bloc followers, and independent unionists in 1948. Here's a list of some key figures involved
- Basawon Singh (Sinha)
- Ashok Mehta
- R.S. Ruikar
- Maniben Kara
- Shibnath Banerjee
- R.A. Khedgikar
- T.S. Ramanujam
- V.S. Mathur
- G.G. Mehta It's important to note that R.S. Ruikar was elected as the first President and Ashok Mehta became the General Secretary of the HMS.