India Inc In Slumber; Job Creation Reaches A Three-Year Low

In the words of Balaji Ethirajan, Managing Director And Chief Executive Officer at human resource firm Randstand India, a percentage point rise in GDP growth is directly proportional to the creation of approximately 7.5 lakh jobs in the country. And he added that, "A the drop in GDP (growth) from 9.53 percent in FY11 to 4.99 percent in FY13 means that almost 30 lakh jobs have not kicked off in the economy during this period," reports the Economic Times.

An economy that was once counted among the best performing nations in the continent, is presently struggling to stay afloat. Rising inflation, slowing pace of industrial activity and wide trade deficit are seen as the major reasons behind this turnaround.

As per Morgan Stanley, a growing working-age population in the country is bound to have a positive impact on its economy. And the nation could easily reach growth rate of about 7 percent on average over the next decade if the government wakes up from its slumber and implements constructive policies that can boost productivity.

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