NEW DELHI: The Narendra Modi-led NDA government at the Centre wants to know why critics credit it for “job-less growth” despite the economy averaging seven plus GDP growth in the last three years.
Lack of data has apparently been the fodder for speculation, which the government is seeking to address by initiating regular household survey of the status of employments in rural and urban areas.
The household survey is being conducted by the National Sample Survey Organisation (NSSO), with the NITI Aayog vice-chairman Arvind Panagariya saying that the exercise began from April itself, which will give quarterly and annual data on jobs.
“The survey will be conducted throughout the year. The problem in the country is that we don’t have authentic data, which allows people to make all kinds of claims,” added Panagariya.
Reacting to the claims of the former finance minister P Chidambaram that he stood vindicated for his prophecy of the decision on demonetisation knocking down the GDP growth as the last quarter registered only 6.1 per cent, Panagariya in a rare combative remark said: “He (Chidambaram) is a messiah of doom,” while adding that the country is on course to register eight plus GDP growth within a couple of years.
“Reforms have their own legs, as steps taken by the PV Narsimha Rao and Atal Bihari Vajpayee government led to nine years of high growth economy from 2003.
The Modi government has taken a number of big reforms, while more will be taken, will start showing on economic growth in a couple of years to take India to eight plus growth trajectory,” said Panagariya.
He rejected the contention of a large scale lay off in the IT sector, saying that his understanding is that the employment growth is positive.He argued that the rise in protectionism in the US and other developed countries would only trigger innovation.
Panagariya added that the US is bound to issue 65,000 H1B visa as per the Geneva Convention.