- FRC 2027: SFG Residential program | accepting application for Tranche-2 Click Here to know more →
- CSAT Classes for Prelims 2027 by Rishi Bhargav sir starts 16 Nov. at 5 PM Click Here to know more →
- Prelims Sprint classes 2027: Starts 2nd Nov. at 4:30 PM | First class open to all. Click Here to know more →
India needs 8.1 million jobs a year, says WB
What has happened?
India needs to create 8.1 million jobs a year to maintain its employment rate, according to a World Bank report which projected the country’s growth to accelerate to 7.3% in the current financial year. It also projected the growth rate to increase further to 7.5% in the following two years
India recovered from Demonetisation and GST
In its twice-a-year South Asia Economic Focus (SAEF) titled ‘Jobless Growth?’, the bank also said India had recovered from the withdrawal of large denomination bank notes in November 2016 and the Goods and Services Tax (GST), rolled out on July 1, 2017.
Expedite investments
The report projected India’s growth to further accelerate to 7.5% in 2019-20 and 2020-21 and said New Delhi should strive to accelerate investments and exports to take advantage of recovery in global growth.
