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NEW DELHI: Average GDP growth rate of 12.2% is needed to start addressing India's underemployment challenge and a bigger push is needed for a pro-growth, pro-jobs policy agenda to tackle the country's high youth unemployment problem, a report by investment banking and financial services firm Morgan Stanley has said."In our base case, India's GDP will grow at an average of 6.5% over the coming decade, one of the fastest-growing economies globally. But this pace will not be enough to generate enou ...Read More >
New Delhi: The Indian economy needs to grow by 12.2%, on average each year, about twice its current pace, to address underemployment (jobs that do not fully utilise a person's skills), according to Morgan Stanley. To maintain a stable unemployment rate, India requires an average gross domestic product (GDP) growth of 7.4%, assuming participation rates stay constant, the report said. If participation rate rises to 63%, the growth needed jumps to 9.3%, it added. According to official data, the la ...Read More >
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