Subbarao says India needs growth that creates more jobs
In short
Former RBI Governor D Subbarao said India needs growth that creates more jobs, not just bigger numbers. He said keeping growth at 7% or more will need more private investment, labour-heavy manufacturing, better skills and stronger links to global supply chains.
This matters because faster growth alone may not be enough to create jobs. The reporting does not say what policy changes, if any, will follow his remarks.
What the reporting says
Former RBI Governor D Subbarao said India must make growth employment-intensive, not just fast, in comments reported by Business Standard. He said sustaining 7% or more growth will require stronger private investment, labour-intensive manufacturing, better human capital and deeper integration into global value chains. The reporting does not specify a policy response or whether officials accepted his warning.
Why it matters
Former RBI Governor D Subbarao said India should make growth productive, employment-intensive and resilient rather than only fast. He linked sustained 7% or higher growth to stronger private investment, labour-intensive manufacturing, better human capital and deeper integration into global value chains. He also said India’s 7.8% first-quarter growth suggests resilience, but the reporting does not state any official response.