Growth should generate jobs: Finmin

The economy has been on high growth trajectory, but it should translate into generation of adequate jobs to make the growth story inclusive, Minister of State for Finance P K Bansal said on Wednesday.

"We have grown at close to eight per cent during the last three years and credit has been growing at 32 per cent... but all this would be meaningless as long as we do not generate adequate jobs," he said at a seminar on stock market in New Delhi.

There is a target of creating seven crore jobs during the eleventh plan, starting next fiscal, but that is not enough, he said, adding the private sector should come forward to generate more jobs in the economy.

Those against

putting pension money in stock markets should be convinced about fair play in the markets, he added.

In this context, he said speculative nature of the markets should be reduced.

Shiv Sena MP Suresh Prabhu said an instrument should be found out to channelise savings into stock markets which could further be directed towards creating sound education system in the country.

Unless solid education system is created, the talk of demographic dividend has nov value. The population increse would not increase the limited resources that India has in terms of geographical area, he said.

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