Inequality, Informality, Marginality and Unemployment (IIMU) in Indian Labor Market during Covid-19 Pandemic

Abstract

This paper examines inequality, informality, marginality and unemployment in Indian labor market during Covid-19 Pandemic. These four concepts are dynamically examined in the context of wage code, 2019 and the recent three labor codes, 2020 passed in parliament by the central government to expand the neo-liberal global capitalism agenda to increase surplus rate via higher exploitation rate of workers. The paper also critically analyses the economic package announced by the government with insignificant share of fiscal policy measures rather monetary policy measures including loan and credit. Alternatively, this paper advocates a fiscal stimulus package to counter the challenges of lives and livelihood of the workers especially informal workers in the Indian labor market.