The central challenge of India is job creation: Rahul Gandhi

Demonetisation, a completely self-inflicted wound, caused approximately 2% loss in India's GDP, said the Congress leader

GN Bureau | September 12, 2017


#growth   #economy   #jobs   #demonetisation   #Rahul Gandhi   #hatred   #parliament  
Photo courtesy: INC.in
Photo courtesy: INC.in

 For the first time in our history, India has the opportunity to wipe out poverty. If India is able to lift another 350 million people out of poverty by 2030, it would be an achievement that the human race can be proud of, Congress leader Rahul Gandhi said and added: “Doing this would require us to grow by more than over 8 percent in the next 13 years.”

 
“India has done it before and can do it again. But it is imperative that India sustain a high growth rate for an uninterrupted period of 10-15 years in order to do so. At the heart of this powerful engine which India has built with its blood, sweat and bare hands since 1947 are jobs and economic growth. No amount of growth is enough for India if it's not accompanied by the creation of jobs. It doesn't matter how fast you grow. If you are not creating jobs, you are not actually solving the problem,” Gandhi said in his speech at the University of California, Berkeley.
 
“So, the central challenge of India is jobs. Roughly 12 million young people, 12 million, enter the Indian job market every year. Nearly 90% of them have a high school education or less. India is a democratic country and unlike China, it has to create jobs in a democratic environment. India does not have and nor does it want China's coercive instruments. We cannot follow their model if massive factories are controlled by fear. Jobs in India are going to come instead from small and medium scale industries. India needs to turn a colossal number of small and medium businesses into international companies,” he added.
 
He pointed out that currently, all the attention in India is paid to the top 100 companies. “Everything is geared towards them. Banking systems are monopolised by them, the doors of government are always open to them and laws are shaped by them. Meanwhile, entrepreneurs running small and medium businesses struggle to get bank loans. They have no protection and no support. Yet these small and medium businesses are the bedrock of India and the world's innovation.”
 
He went on to say that the strength so far has been that we have done all this peacefully. “What can destroy our momentum is the opposite energy. Hatred anger and violence and the politics of polarisation which has raised its ugly head in India today. Violence and hatred distract people from the task at hand. Liberal journalists being shot, people being lynched because they are Dalits, Muslims killed on suspicion of eating beef, this is new in India and damages India very badly. The politics of hate divides and polarises India making millions of people feel that they have no future in their own country. In today's connected world, this is extremely dangerous. It isolates people and makes them vulnerable to radical ideas,” he said.
 
“…listening to India is very important. She will give you all the answers that you seek. India's institutions have over 70 years have built a profound understanding of our country. We have experts in every single field. Ignoring India's tremendous institutional knowledge and taking ad hoc decisions is reckless and dangerous. Decisions like Demonetisation which removed 86% of cash from circulation overnight and was carried out unilaterally without asking the Chief Economic Advisor, the Cabinet or even Parliament imposes a devastating cost in India,” he added.
 
The Congress leader said that currently, “we are not producing enough jobs. 30,000 new youngsters are joining the job market every single day and yet the government is only creating 500 jobs a day. And this doesn't include the massive pool of already unemployed youngsters. The decline in economic growth today is worrying and it's leading to an upsurge of anger in the country”.
 
“The government's economic policies, demonetisation and hastily applied GST have caused tremendous damage. Millions of small businesses were simply wiped out as a result of demonetisation. Farmers and manual labourers who use cash were hit extremely hard. Agriculture is in deep distress and farmer suicides have sky rocketed across the country. Demonetisation, a completely self-inflicted wound caused approximately 2%loss in India's GDP. India cannot afford to grow and create jobs at the current rate. If we continue at the current rate, if India cannot give the millions of people entering the job market employment, anger will increase and it has the potential to derail what is being built so far. That will be catastrophic for India and the world beyond it.”
 

Comments

 

Other News

Bank loan recovery in recent years has mirrored Hindu rate of growth

At the outset, for those who are not familiar with the nomenclature ‘Hindu Rate of Growth’, it refers to the low economic growth in post-independent India till the 1990s, when several economic liberalisation measures were undertaken. Till the 1990s, the growth rate was around 4%, which accelera

“Indian Navy needs more capabilities to build ships”

As India faces increasing threats from China and Pakistan on sea, Vice Admiral Ajendra Bahadur Singh, Flag Officer Commanding-in-chief (FOC-in-C), Western Naval Command, has said that the Indian Navy needs to scale up its capabilities and have more budgets allocated. Speaking to members of t

Mumbai issues strict guidelines for home quarantine of all international passengers

In view of the emerging threat of the new coronavirus variant, Omicron, the BrihanMumbai municipal corporation (BMC) Saturday issued strict guidelines for surveillance of all international travellers arriving in the metro and especially those from ‘at risk’ nations. Outlining SO

Omicron: Maharashtra revises travel guidelines

A day after the union health secretary wrote to it that its order on SOPs for air travellers was in divergence with guidelines issued by the MoHFW, GoI in view of the Omicron threat, the Maharashtra government on Thursday revised its guidelines for passengers arriving in the state. Issuing

Omicron: Centre asks Maharashtra to follow uniform guidelines

With the threat of Omicron, the new variant of the coronavirus, looming large, the union health ministry has written to the Maharashtra government to align orders issued by the state with the ministry’s guidelines for uniform implementation. The state government in its order dated Nove

Central Railways runs over 800 Kisan Railway trips

To ensure bigger access to farm produce and provide new markets with quick transportation and subsidy at 50%, the Kisan Rail has been bringing prosperity, joy, and hope to farmers of Maharashtra. On November 28, the Central Railway ran its 800th  trip of Kisan Rail from Sangola to Muzaffarpur.

Visionary Talks: Dr. Naresh Trehan, CMD Medanta Heart Institute with Kailashnath Adhikari



Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter