Nearly three weeks before the last full Budget presentation of the Budget by the present government, Prime Minister Narendra Modi met country’s top 40 economists and experts and brainstormed on the theme “Economic Policy The Road Ahead”, in which experts of the view that 20% of Indian youth were unemployed and the government should target only job growth and stressed on high economic expansion for generating employment.
While the session was called by the government think tank NITI Aayog to discuss six key areas — agriculture and rural development, urban and infrastructure connectivity, health and education, employment, manufacturing and exports, and health and education — job creation was the top issue raised by economists.
Briefing reporters about the meeting, Niti Aayog Vice- Chairman Rajiv Kumar said over 40 economists and experts shared insightful views on various aspects relating to the economy and policy-making. One of the experts, he said, was of the opinion that the government should target only job growth and stressed on high economic expansion for generating employment. Another expert pointed out that more than 20% educated youth were unemployed.
Rajiv Kumar also said that the Niti Aayog will “very soon” come out with a report of the task force, which was set up to study high-frequency data on job creation. “There is a much better news on employment” contrary to the data provided by labour bureau and the Centre for Monitoring Indian Economy (CMIE), PTI reported.
The experts also expressed their views on macro-economy, agriculture, rural development, employment, health, education, manufacturing, exports, urban development, infrastructure and connectivity. Besides job creation, doubling farmers’ income, boosting manufacturing and promoting exports were also discussed in the meeting.
The meeting comes in the backdrop of latest estimates of national income by Central Statistics Office (CSO) which showed that India’s growth is expected to slow down to four- year low of 6.5 per cent this fiscal, the lowest under the Modi-led government. The Gross Domestic Product (GDP) was 7.1 per cent in 2016-17 and 8 per cent in the preceding year. It was 7.5 per cent in 2014-15.