India's strong GDP numbers: What use are they if people don’t benefit?
· livemint.com
India’s flashy GDP figures don’t reveal the pain. Real incomes haven’t risen in years and corporate profits have swollen. In contrast, competing economies such as Vietnam have seen real incomes rise. India could follow their model and adjust wages regularly based on living costs to benefit workers.
The situation has worsened lately. Between 2019 and 2024, rural wages rose 5.2% a year in rupees but fell 0.4% a year once inflation is taken into account. But ...