Top News:

Economy expanding at the rate of 7% but growth is jobless: Union Minister Y S Chowdary

Union Minister Y S Chowdary today lamented that India was witnessing a "jobless growth" despite the economy expanding at the rate of over seven per cent.

By: | New Delhi | Published: September 22, 2016 10:12 PM
Chowdary, a member of NDA ally TDP, and Minister of State for Science and Technology, was also critical of the Finance Ministry and said unless money is not pumped into innovations, it would be difficult to realise the government's flagship programme of Start up India and Make in India. (Reuters) Chowdary, a member of NDA ally TDP, and Minister of State for Science and Technology, was also critical of the Finance Ministry and said unless money is not pumped into innovations, it would be difficult to realise the government’s flagship programme of Start up India and Make in India. (Reuters)

Union Minister Y S Chowdary today lamented that India was witnessing a “jobless growth” despite the economy expanding at the rate of over seven per cent.

Chowdary, a member of NDA ally TDP, and Minister of State for Science and Technology, was also critical of the Finance Ministry and said unless money is not pumped into innovations, it would be difficult to realise the government’s flagship programme of Start up India and Make in India.

“Fortunately, our numbers say that worldwide our country is giving the highest growth rate of 7 plus per cent, but we also realise that is a jobless growth, which is definitely good for the country.

“Our country also requires more and more employment generation. There is a need for us to create a proper matrix system where parameters have to be linked to employment,” he said.

Chowdary was addressing the 5th BIRAC Innovators Meet here. BIRAC is a PSU of the Department of Biotechnology under the Ministry of Science and Technology. Union Cabinet Minister Harsh Vardhan, who heads the ministry, and senior officials of the S&T were also present at the meeting.

“The North Block (Ministry of Finance) deals with finance. So, (it) does not seem to have great understanding of exorbitant capacity of innovation. That is the regular problem.

“There is a need to drive home the point that without pumping money into the area…in BIRAC and organisations like it, we may not be able to realise the true spirit of Start up India. I wish my prayers are answered.

“Last few months we have been talking very much about Make in India, but this the fundamental thing,” he said.

He also told the scientists that research should be “transformational” and take needs of people into consideration.

“Scientists have been writing papers, but they are science centric. They have never gone by need basis. We have to focus on transformation,” he said.

The minister added that “honeymoon days are over” and said gone are days of reverse engineering when technology from outside could be used for this. “There is a need for innovation and commercialisation,” he said.

Emphasising on a requirement of a good eco-system, Chowdary said it is necessary to look beyond profit and loss.

He also batted for making states a stake-holders in creating an atmosphere for innovations.

Please Wait while comments are loading...

Go to Top