June 18, 2010 2:38 PM

printer

Around 120 million young people likely to join country's working population: RBI Dy Governer

RBI Deputy Governor Subir Gokarn said that around 120 million young people are likely to join the country's working population, much higher than that of China, which will give an impetus to economic growth. He said, however, the country needs to put in place right kind of policy initiatives to create right employment environment. Mr. Gokarn was speaking at a summit in Mumbai on Friday. Highlighting the need for creating new jobs in the manufacturing sector to wean away unproductive labour in the agriculture sector, Mr. Gokarn said while contribution from agricultural labourers had remained stagnant over the last two decades, the manufacturing base saw a four-time increase in the productivity. He said migration of workers from the farm sector to industry and services is essential to sustain high growth. Mr. Gokarn said the country need to create conditions that would enable it to move to a double digit GDP growth of 10 per cent by finding avenues to enhance labour and its productivity in the manufacturing sector.

Most Read
View All arrow-right

No posts found.