Formal CEOs, informal children.

"Infosys founder NR Narayan Murthy has previously indicated that a fair CEO remuneration would be about 25 to 40 times that of the lowest level employee. But in his own company now, CEO Salil Parekh's compensation is nearly 700 times the median remuneration in the company (compared to the lowest level employee, it would be significantly more)." "Former Wipro CEO Thiery Delaporte's was $20 million, which meant his salary was 1,702 times more than that of the median remuneration of Rs 980,000 in 2023-24." TOI. Talking about India's growth rate, International Monetary Fund's (IMF) deputy managing director Gita Gopinath said, "This year we have (projected) 7%, medium term growth (will be) 6.5-7%; it's contribution to global growth is 17%." But, employment is not keeping up, private investment is strong in the "household sector and construction", but not in machinery and equipment, and "A continued focus on improving the ease of doing business in the regulatory environment, in terms of red tape, will be super helpful." "Development economist Ajit Ghose's critical 2023 paper highlights a pattern of 'exclusive growth' in India's economy since the early 1990s, benefiting primarily the urban rich." Skilled employment continued to grow "while low-skilled workers faced increasing exclusion from the job market." "Under the Narendra Modi government, the employment rate among semi-skilled workers declined even more rapidly," and "The decline was compounded by deeply exploitative worker contracts," wrote Prof Deepanshu Mohan. "Quality of employment has been a bigger challenge," such that "the earnings of the bottom quintile of regular workers is no different from the bottom quintile of casual workers. In 2022, both received average monthly earning of about Rs 3,000 per month or Rs 100 per day," wrote Prof Himanshu. Barely subsistence level. "India's informal sector consists of a vast network of small businesses, street vendors, and independent workers, operating outside the formal legal framework." The informal sector had grown 7.4% per year in real terms between 2010-2015-16." Employment in the sector grew from 108 million to 111.3 million in that period, but has fallen to 109.6 million since, wrote Payal Bhattacharya. Higher competition for jobs due to unemployment leads to workers accepting lower remuneration. This leads to surging profits in large companies and indecent salaries for the CEOs. "India's largest listed companies were able to generate steady cash flows from their operations in 2023-24, with the aggregate figure for a sample of 416 BSE 500 firms surging 26.4% and crossing Rs 10 trillion, likely for the first time, a Mint analysis showed." As a consequence, "Gujarat, one of the economically developed states in the country" "ranks 25th among Indian states on hunger index says the 2023-24 Sustainable Development Goal (SDG) report released by NITI Aayog earlier this month." It says that 39.7% of children under 5 in Gujarat are underweight. TNIE. GDP growth over 7%, leading to listed companies banking Rs 10 trillion, leading to CEOs earning 1,000 times their workers, while the informal earn Rs 100 per day and 40% of children are hungry. Simple, really.