Former RBI Governor Rajan indicates insufficient job creation in India's 7% GDP growth and urges focusing on labor-intensive industries.

Former Reserve Bank of India Governor Raghuram Rajan emphasized that India's 7% GDP growth is insufficient for job creation. He urged the government to focus on labor-intensive industries instead of capital-intensive ones, which are growing faster. Rajan also noted that consumption among lower-income Indians has not recovered post-pandemic and recommended monitoring apprenticeship schemes. He stressed the urgency of leveraging India's demographic dividend within the next 15 years.

September 29, 2024
20 Articles