international First Deputy Managing Director of the International Monetary Fund (IMF) Gita Gopinath said on Saturday that India is lagging behind the G-20 countries in terms of job creation. She further said that in view of the population growth, the country needs to create 14.8 crore additional jobs by the year 2030. She said in the Diamond Jubilee program of Delhi School of Economics that in the decade starting from the year 2010, India’s average growth rate was 6.6 percent, but the employment rate was less than two percent.
Our employment rate is lower than other G-20 countries
Gopinath said that is why India’s employment rate is much lower than other G-20 countries. He said, “If you look at India’s projections in terms of population growth, India will have to create an additional 60 million to 148 million jobs from now to 2030. We are already in 2024, so we have to create a lot of jobs in a short time.”
private investment needed
This will require fundamental reforms, including land reforms and the implementation of labor codes. He said private investment needs to increase to create more jobs, as it is not in line with the seven percent growth in GDP. He said public investment is going well, but private investment needs to improve. Gopinath also said India should improve its education system so that it can develop the skills of its workforce.
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