1.
| Received
04-Jun-2026 |
Accepted
- |
Published
04-Jun-2026 |
Abstract
Studies indicate a long run decline
in efficiency in Indian Industry as
reflected by total factor productivity.
Any fall in efficiency lowers
the marginal productivity of labour
and pulls down employment.
Declining productive efficiency
could well have kept the growth of
employment down in Indian
manufacturing. To reverse this
process, the production structure
should be made flexible and enable
easy substitutability between
labour and capital, argues the
paper.
Keywords : Total factor productivity, Marginal productivity
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