Dattatreya had on May 31 in Mumbai conceded that the growth of the economy was not translating into more employment.
He had also said that a task force has been set up to compile figures of jobs generated in the last three years.
"The investment made in various sectors, including through programmes like Make in India, is bringing in more funds and would create jobs," Shah told reporters here.
Shah also gave a reference of Mudra bank, which at national level has helped seven crore youth get different types of jobs.
"As many as 7.64 crore youth have got employment through Mudra bank. The loan amount that is disbursed by the bank varies from Rs 10,000 to Rs 10 lakh. These people turned from job seekers to job-generators," he said.
It was said that nationalisation of banks then (during former prime minister Indira Gandhi's regime) would help the poor but it never worked out.
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