What is the biggest concern for the youth of the country today? One of them is not getting a job. For this, he keeps raising his demands with the government of the country from time to time. Many times the government listens, but a permanent solution has not been found yet. In this budget, the government has increased its focus on job creation. Now the question of whether this initiative of the government will provide employment to the youth in the future is gaining importance. Now Geeta Gopinath, First Deputy Managing Director of the International Monetary Fund (IMF), has also spoken out on the matter. She has explained why India is lagging behind the G-20 countries in terms of job creation.
Why is this work important for India?
He further said that taking into account population growth, the country needs to create 14.8 crore additional jobs by 2030. He said at the Diamond Jubilee event of the Delhi School of Economics that India’s average growth rate in the decade beginning in 2010 was 6.6 per cent, but the employment rate was less than two per cent. Gopinath says this is the reason why India’s employment rate is much lower than other G-20 countries.
India faces a challenge
He said that if we look at India’s projections in terms of population growth, India will have to create a total of 60 to 148 million additional jobs by 2030. We are already in 2024, so we have to create a lot of jobs in a short period of time. This will require fundamental reforms, including land reforms and implementation of labour codes. He said that private investment needs to be increased to create more jobs as it is not in line with seven per cent GDP growth. He said that public investment is going well, but private investment needs to improve. Gopinath also said that India should improve its education system so that it can develop the skills of its workforce.
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Meeting with the Minister of Finance
Finance Minister Nirmala Sitharaman on Saturday met IMF First Deputy Managing Director Geeta Gopinath. During this, Sitharaman said that India is ready to explore further ways to enhance its cooperation with the International Monetary Fund (IMF). In the meeting, Gopinath congratulated the Finance Minister for the steps taken by the Government of India for fiscal consolidation.
Finance Minister Nirmala Sitharaman said India attaches great importance to its relationship and continued engagement with the IMF, the Finance Ministry said in a post on Twitter. The Government of India is willing to explore further ways to enhance its cooperation with the IMF in the future. Referring to the vitality of the Indian economy, Gopinath praised India’s strong relations with the IMF.
I am Sagar Patel, specializing in business news reporting. With a keen focus on economic trends, market analysis, and corporate developments,
