Structural Reforms Needed to Create at Least Five Million Jobs Every Year Along with High Growth Rate of 7-8%; Growth to be Non-Inflationary, Job Oriented, Sustainable and all Inclusive: Jayant Sinha, MOS (Finance)

The Minister of State for Finance, Shri Jayant Sinha said that India has a huge unexploited potential for growth which can make it a US $5 trillion economy in the next ten years. Shri Sinha said that we need deep structural reforms to create at least five million jobs every year as well as to ensure 7-8% economic growth as job creation and growth go hand-in-hand. He said that India needs to develop alternative model of growth based on mix of policies including market driven entrepreneurship innovations, scope for larger private investment and free market economy in democratic polity among others. Shri Sinha was delivering the Inaugural Address after inaugurating the two day Delhi Economic Conclave 2014 here today. The theme of the two day Conclave is Structural Reforms and Growth in India. Shri Sinha said that the world economy is passing through a critical time and needs higher growth. . He said that we need growth which is sustainable, all inclusive, anti-inflationary and job-oriented. He said that it is to be ensured that environmental and ecological carrying capacity is also increased along with higher growth.