Sources from New Delhi stated that former Prime Minister Dr Manmohan Singh said the phenomenon of “jobless growth” has deteriorated into “job-loss growth”. This together with rural indebtedness and urban chaos has made the growing number of aspiration youths restless. When hitting out at the government for failing to steer the economy to its potential, Dr Singh said the domestic challenges of India’s economy were daunting in their complexity and devastating in their impact on society.
Furthermore Dr. Singh said “The suicide of farmers and frequent farmer agitations reflect the structural imbalances in our economy which call for serious in-depth analysis and political will to address them”. He said attempts at creating additional job opportunities in the industrial sector have failed as industrial growth is not picking up fast enough.
Moreover Dr Singh said the small and unorganized sectors which were vibrant and contributing to generation of wealth and employment opportunities have grievously suffered in the wake of the “disastrous” demonetization and “slipshod” introduction and implementation of the Good and Services Tax (GST). Apparently this possibility opens up many opportunities and challenges for budding management professionals in this fast-moving world of unprecedented changes.
