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Language , Updated: Aug 5, 2022, 9:47 PM
Mumbai, Aug 5 (PTI) Mahindra Group Chairman Anand Mahindra on Friday said there is a need to boost manufacturing to generate large scale employment and take advantage of the global factors moving in India’s favour. Addressing the shareholders at the company’s 76th Annual General Meeting here, Mahindra said certain loopholes need to be bridged to take full advantage of the opportunities emerging in the country. “The most important of these is to stop the growth which is not creating jobs. Center for Monitoring Indian
Addressing the shareholders at the company’s 76th Annual General Meeting here, Mahindra said certain loopholes need to be bridged to take full advantage of the opportunities emerging in the country.
“The most important of these is to stop the growth which is not creating jobs. According to the Center for Monitoring Indian Economy (CMIE), the unemployment rate in India is around seven to eight percent. This is because job growth has not kept pace with economic growth.
Mahindra said, “Only 40 per cent of the total labor force able to do the job is actually working or looking for work. The most affected are youth and women.
The unemployment rate fell to 6.80 per cent in July, the lowest level in the past six months, amid increased agricultural activity during monsoon in the country, according to the latest CMIE data.
Mahindra said, “The government is trying to do its bit and has announced a plan to hire 10 lakh people in government jobs by 2023. Considering the strong workforce of 90 crores in the country, much remains to be done.
Source: navbharattimes.indiatimes.com
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