Unpaid household work, primarily performed by women, is a significant contributor to the economy.
There is a growing global movement to recognize and value unpaid work.
Women bear the brunt of unpaid work, which limits their participation in the formal labor force.
Methodology
The study utilized data from the Consumer Pyramids Household Survey (CPHS) conducted by the Centre for Monitoring Indian Economy (CMIE).
Valuation Methods:
Opportunity Cost Method (GOC): Values unpaid work based on the potential earnings forgone.
Replacement Cost Method (RCM): Values unpaid work based on the cost of hiring someone to perform the same tasks.
Findings and Implications
Unpaid household work contributes significantly to India's GDP, particularly during the COVID-19 pandemic.
Women bear the majority of the burden of unpaid work, limiting their economic opportunities.
Recognizing and valuing unpaid work can lead to more equitable policies and increased women's labor force participation.
Recommendations
Further research is needed to refine the methods used to value unpaid work.
Implementing policies that recognize and value unpaid work can help reduce gender inequality and boost economic growth.
Encouraging shared household responsibilities and providing social support can help women participate more fully in the labor force.
By recognizing and valuing unpaid household work, India can unlock its full economic potential and promote gender equality.
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