India`s income will go up by 27 per cent with women involvement

Admin 15-Nov-2016 11:17:09 Inothernews

India`s income will go up by 27 per cent with women involvement

Indias national income would increase by 27 per cent if the participation of women in the workforce matches the level of men, IMF Managing Director Christine Lagarde has said. Delivering a speech on Womens Empowerment: An Economic Game Changer in Los Angeles, 60-year-old Lagarde said equal pay and better economic opportunities for women boost economic growth and create a bigger pie for everyone to share.

“To put it differently: if you discourage half the population from fully participating in the labour market, you are essentially behaving like an airline pilot who shuts down half his engines in mid-flight. Sure, your plane will likely continue to fly, but it would be such a crazy thing to do,” Lagarde said.

Noting that across the globe women were still facing a triple-disadvantage and are less likely than men to have a paid job, Lagarde said only half of the world’s working-age women were employed.

“If they do find paid employment, it is more likely to be in the informal sector. And if they eventually get a job in the formal sector, they earn, on average, three-quarters as much as men — even with the same level of education, and in the same occupation,” she said.


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