Page 15 - Policy Economic Report - April 2026

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

In India, emissions remained broadly flat, supported by renewable expansion and favorable weather
conditions

4. ILO 2026 Workplace Safety Report Links Work Design Risks to 840,000 Deaths

Recent findings from the International Labour Organization highlight the growing impact of workplace
conditions on global health and economic outcomes. The 2026 report underscores that poor job design
and adverse working conditions particularly psychosocial risks are emerging as a major global concern.
These risks are estimated to contribute to over 840,000 deaths annually, making them one of the leading
work-related causes of mortality worldwide. The findings reflect a structural shift in labour market risks,
where non-physical factors such as stress, job insecurity, and excessive workloads are increasingly
affecting worker health and productivity.

The economic impact is significant, with an estimated 1.37% loss of global GDP and nearly 45 million
disability-adjusted life years (DALYs) lost each year.

The report highlights that current interventions remain individual-centric, focusing on stress management
and counselling, while the underlying risks are structural, embedded in workload, control, and
organizational design. Globally, 35% of workers exceed 48 hours per week, and 23% report exposure to
workplace violence or harassment.

Key Findings

• Economic Toll: Nearly 45 million disability-adjusted life years (DALYs) are lost annually due to
psychosocial risks, leading to massive absenteeism and turnover.

• Prevalence of Harassment: Almost one-fourth (23%) of global workers have experienced violence
or harassment, necessitating immediate implementation of the ILO Violence and Harassment
Convention (2019).

• Organizational Measures: Prevention strategies must prioritize collective measures, such as
workload management, role clarity, and supportive leadership, over individual stress-
management training.

• Data Gaps: The report identifies a critical need for internationally comparable data and
psychosocial indicators to be integrated into national OSH monitoring systems.

• Social Dialogue: Effective risk management requires participatory approaches, involving workers
and collective bargaining to translate laws into daily workplace practices.

5. Indian Economy

Economic Growth

As per RBI, India remained the fastest-growing major economy, with growth accelerating to 7.6 per
cent in FY26 from 7.1 per cent in FY25, supported primarily by strong domestic demand,

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