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Through a crystal ball, darkly

Likely slow economic growth in the medium term will be bad for jobs, social harmony and defence capabilities

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Illustration by Binay Sinha

6 min read Last Updated : Oct 27 2020 | 11:06 PM IST

In my article last month (“Recovery: The long hard road ahead”, Business Standard, September 10) I had ended with the conclusion “average, medium-term growth higher than 3-5 per cent looks a bridge too far. The economic, social and strategic consequences will be profoundly negative”. By medium term I was referring to the five years beyond 2021-22. It is worth spending a little time speculating on the nature of these possible consequences.

On the economic side, the most worrisome dimension relates to employment and unemployment. Despite fairly high economic growth at nearly 7 per cent per year, India’s employment-unemployment profile had worsened

Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper

Topics : Coronavirus Indian Economy India GDP growth jobs Unemployment in India communal violence

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