Former RBI Governor Bimal Jalan said Monday the government needs to focus on jobs creation and stressed that the long-term prospects for economic growth are good.
Also, he said the Narendra Modi-led government has a majority and can take tough decisions.
"I am positive about medium to long-term growth perspective of the economy... If you look at the all factors of production, India is strong today," he said during an interaction organised by 'Algebra, the Arts & Ideas Club'.
However, on employment opportunities front, Jalan said not enough jobs are being created. The banking sector is grappling with the problem of bad loans, he added.
"...something which is going now is depressing, there is not enough job created, there is NPA problem," the former RBI governor noted.
He also pitched for decentralisation of power and said that the ministries should not be running the public sector undertakings (PSUs).
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app