April 25, 2016 7:26 PM

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Start-ups are biggest source of Job-creation in any country: Raghuram Rajan

<br/> <br/>Reserve Bank of India Governor Dr. Raghuram Rajan today said that Start-ups are the biggest source of job-creation in any country.<br/>Delivering a lecture on 'Starting up India' at Y. B. Chavan Centre in Mumbai today, the RBI Governor said that Conditions for starting a small firm improving day by day in India. He said for any country to progress economically, needs easier entry and exit norms to businesses. He added that basic safety net like health, employment insurance are other two critical factors needed for ensuring further job creation from the businesses. He further said that business firms also needs transparent tax regime, protection of property rights to open uo newer job opportunities.<br/><br/>Dr. Rajan said India has created a strong foreground for all businesses to grow and expand by providing a safe and encouraging business environment. He added that government is focused on improvising business opportunities for smaller firms by giving them access to infrastructure and cutting down the stringent norms.<br/> <br/>Dr. Rajan informed that with the progressive business scenario in the country, there will be need of strong and wider banking sector. He also stated that India may get 18 more banks by the next year.

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