Given the dismal state of employment performance in India, the chapter assesses some aspects of employment policy, particularly its macroeconomic policies in the Indian context. In doing so, it provides careful linkages between the macroeconomic policies and their implications on employment outcomes both in the pre-and post-reform periods. The chapter argues that the dominant theoretical framework that currently drives our macroeconomic strategy includes the ‘monetarist approach’, which relies heavily on ‘inflation targeting’ and ‘fiscal consolidation’ as the primary tools to achieve macroeconomic stability. The concern of employment challenge has not been the direct focus of macroeconomic policies in India. The post-reform period marked the departure from the earlier phase, where the fiscal policy was used as a main instrument by the government to affect output and employment. From the Keynesian perspective, conservative macroeconomic policies related to a massive reduction in capital and social sector expenditure, shrinking of public sector employment, reduction in social security provisions and decline in public investment together have adverse implications for the generation of decent employment growth. Thus, the chapter presses the need for comprehensive and well-calibrated employment policy in India which requires rethinking of its existing macroeconomic policy approach towards employment generation.