7: Probability of Acquiring Benefits for Socio-Economic Framework with Different Entities

In my presentation so far, I’ve outlined various parameters of development projects. However, to effectively implement these parameters, a robust socio-economic framework is essential. Based on my literature review and personal experience, I propose a classification of the socioeconomic framework into four main parameters, applicable across a range of projects and entities, each with its own set of challenges and probabilities.Firstly, as previously mentioned, land is a critical aspect of any project. While I have already discussed its importance, I want to emphasize the complexities involved in land acquisition under existing laws, the process of awarding compensation or solatium according to legal or market rates, and the need to establish safeguard policies for the resident or project-affected population. Achieving and implementing these aspects is often a challenging task.

The second parameter involves the labour workforce. This aspect is implemented in various capacities across different types of entities. In government projects, social licensing to work, such as under MGNREGA, is common. For smaller projects, local labour contractors are typically involved, while larger projects often necessitate the involvement of external labour contractors. Within this, the employment is further categorized into skilled and unskilled labour forces.

The third part of the framework is the welfare-based approach, which I discussed earlier. This involves establishing services to meet basic needs such as housing, medical care, electricity, sanitation, education, and other public amenities. From my experience, this approach is partially implemented and, as of now, is mostly restricted to very large projects, irrespective of the entity involved.

The fourth part, which is often overlooked, is the Labor Rights-based Approach or Social Protection for labour forces. The glaring example of this oversight was evident in the aftermath of the first COVID-19 lockdown, which exposed the dire conditions of labourers working across various sectors.

Lastly, the fifth part of the framework involves Governance policy. Currently, this seems like a distant dream, with its implementation largely limited to top-tier companies (like those in the Fortune 500). It’s a sector that urgently requires the attention of policymakers. I remain hopeful that in the future, effective governance policies will be implemented across all types of projects and entities, but as of now, it remains a largely unaddressed area.