India needs to create 90 million jobs by 2030 to avoid economic stagnation
4 years, 3 months ago

India needs to create 90 million jobs by 2030 to avoid economic stagnation

Deccan Chronicle  

Chennai: India’s GDP would have to grow by 8 to 8.5 per cent annually and the country would have to create jobs for 90 million workers by 2030. Over the decade to 2030, 60 million new workers are likely to enter the workforce as per current demographic trends, and an additional 30 million workers could move from farm work to more productive non-farm sectors. For that to happen, India’s GDP needs to grow by 8 to 8.5 per cent annually over the next decade. If India fails to introduce measures to address the pre-pandemic trends of flat employment and slowing economic growth and does not manage the shock of the Covid crisis adequately, its economy could achieve a decadal growth of just 5 per cent and absorb only about six million new workers.

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