1991 Liberalisation Crushed Workers
Channel: NewsClickin
Date: 2022-05-31

The latest government data show that the 1991 economic reforms increased inequality dramatically. Factory workers, whose real wages increased at 2.3% in the 1980s, saw a mere 0.5% annual growth in their wages post-liberalisation. The share of wages in terms of value added dropped from 39% in the 1980s to just 19% in the post-reforms phase. That means the reforms not only made India’s economy more unequal but also made things worse for the working class.

#WorkingClass #FactoryLabourers #Liberalisation

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