Govt needs to promote labour-intensive industries for jobs: Raghuram Rajan

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Govt needs to promote labour-intensive industries for jobs: Raghuram Rajan - Business Standard

Quick Summary:

With 7 per cent economic growth, India is not creating enough jobs as reflected by the number of applicants for vacant posts in some states, Reserve Bank's former governor Raghuram Rajan said and suggested the government needs to focus on promoting labour-intensive industries to generate employment.

Rajan further said some Indians, especially those at upper level, are comfortable and have high incomes, but consumption growth from the lower half of the country has still not recovered to pre-pandemic level.

Rajan was asked whether the Indian economy, which is growing at 7 per cent, is creating enough jobs.