India heads for 7.5% growth as job skills become priority

MUMBAI – India’s economy is headed for  7.5 per cent growth  in the  fiscal year ending March 31, but China's devaluation of the yuan along with falls in prices of commodities have hit  exports and inflation has increased to 5. 8% as prices of vegetables and fruit soar.

The Finance Minister, Arun Jaitley, is proposing to give tax cuts  to boost growth in the agriculture sector by reducing the price of fertiliser and agricultural implements. 

Farming was sluggish in 2015 with drought-like conditions in several areas and many farmers committing suicide because of heavy debts.  India is now fast urbanising, with migration of agricultural workers to spawning cities in search of jobs. 

The Modi Government is striving to encourage larger foreign direct investment to revive industrial growth, which alone has real potential to create jobs.
Skills development is top of the PM’s agenda to make educated youngsters employable.  A big challenge for the Government is the need to create jobs for 10 million young men and women joining the workforce every year - N Hariharan (ATI).