11/07/2025
We hear people say it all the time:
"Why is everything getting so expensive?"
"Areyyy, why are vegetables so costly these days?"
"Ammmaaa, we used to reach this place in just ₹10, now it takes ₹60!"
This is how most of us express our frustration with rising prices. But in Economics, we call it Inflation.
One day, I was in a taxi, and the driver started talking about how the government should simply give every household a fixed amount of money "sappai lai paisa diyo vaney vaye halcha ta," he said.
As an economist, I couldn’t agree. After sharing our different views, I realised how common this belief is that distributing money solves all problems. It got me thinking how people want more income and complain about inflation but the two often go hand in hand.
J.M. Keynes, the father of modern Macroeconomics, once said something fascinating:
"If you want to keep a country economically active, give people barren land to dig."
His point wasn’t about digging land literally, but about how economic activity generates income. However, he also stressed that the work must be productive and meaningful, it should contribute to growth.
This brings me to disguised unemployment, the case, when more people are employed in a job than actually required. It’s often seen in agriculture, but it can exist in any sector. And Economics tells us, this kind of employment leads to inefficiency and slows down economic growth.
But does that mean giving people jobs is a bad idea? Not at all!
Employment reduces poverty, brings social stability, and helps build human capital.
The key is in the kind of jobs we create.
We need purpose driven employment, work that adds value and sustains itself economically.
When governments focus on revenue generating and productive employment, we see, Infrastructural development, Rise in the Gross State Domestic Product (GSDP), Better public services and Reduced dependency on subsidies.
Take, for instance, a recent initiative where government departments were encouraged to utilize unused or barren land for agricultural activities.
GPU of my neighborhood has cultivate d turmeric and if it is grown not just for subsistence but for commercial use then, after harvesting, the produce can be processed, packaged, and marketed under Govt. Of Sikkim, it will not only generate revenue for the government but will also create employment opportunities, promote local entrepreneurship and strengthen rural economy.
This way job will not only fill pockets but will build futures.
