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Govt initiatives, growing investment to create more jobs during decade: CEA

By Business Standard - 8 months ago
Various initiatives from the government and growing investment are going to create more job opportunities during the decade, Chief Economic Advisor (CEA) V Anantha Nageswaran said on Tuesday. The last decade of the century was marked by a decline in capital formation in the economy and moderation in credit growth, he said at an event here. "Hopefully, those things are a thing of the past. Non food credit growth is now running close to 20 per cent, balance sheets of companies and banks are in good shape and hiring (is showing improvement)," he said. Quoting 2021-22 data, he said, employment in agriculture declined by 15 lakh, manufacturing and services added 37 lakh jobs each and the construction sector generated 19 lakh jobs, he said. "This trend we hope will continue in the future, as indicated by the robust gross value added growth in manufacturing and construction sectors," he said. Talking about various government initiatives for job creation, Nageswaran said, skill developmen

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