New Delhi: Former RBI Governor Raghuram Rajan has raised questions on India's GDP growth. He asked that if the economy is growing so fast then why is India not able to create enough jobs for the youth? Rajan said that he has doubts about the growth rate of the Indian economy. In an interview to news agency PTI, the former Governor of the Reserve Bank of India (RBI) said that there are some real concerns about such rapid economic growth. Rajan questioned that if the economy is really growing so fast then why are there not more jobs and more investment?
Read :- Gold Price Crash: Silver became cheaper by Rs 8803 in 2 days, gold by Rs 2652, rise in the price of crude oil and the effect of PM Modi's appeal.
Rajan raised many questions simultaneously
Rajan said that these development figures are real? If the growth figures are not genuine then even the big economy is suspect. There are some inconsistencies that require concern. Like if we are growing so fast why aren't we creating more jobs? Why not more good jobs? And, why is investment not happening? Why are our industrialists showing so much hesitation in investing? Why is FDI not coming in on a large scale? We can play with the data for a long time and form some opinion.' Apart from this, he asked whether the government is taking necessary steps to create more jobs. He also asked what measures are being taken to remain at the forefront in the areas where we have presence.
Said- We are taking this risk
He further said that if the answer to both the questions is 'no' then I think we have a fundamental problem. So because this is the time of 'Population Dividend' for us. “If we are not creating enough jobs for everyone, we risk losing this ‘population dividend’.”
Read:- Big allegation by former Union Minister Kaushal Kishore, said- Party people defeated me in the elections, efforts are being made to sideline me in BJP.
Rajan has spoken before on the jobs crisis
However, this is not the first time that Raghuram Rajan has pointed towards the jobs crisis in the country. In an interview given to 'The Frontline', the former RBI Governor had said that not many jobs are being created in the private sector. Rajan had further said that now people do not choose civil service jobs just because they want to serve the public, but because they like these jobs best.