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Economy
`Unemployment can be eliminated thru 9 pc growth'
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"We need interventions both from the demand and supply sides in order to achieve higher levels of employment."
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New Delhi
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March 14
Noted economist and the Chairman, Economic Advisory Council to the Prime Minister, Dr C. Rangarajan, hassaid that estimates suggest that unemployment would be totally eliminated by 2012 with a sustained growth of 9 per cent per annum.
Delivering the V.V. Giri Memorial Lecture on `Employment and Growth' here, Dr Rangarajan expressed confidence that the formidable challenge of providing employment to 8 million people every year can be met with growth rate picking up and harmonious industrial relations.
"We need interventions both from the demand and supply sides in order to achieve higher levels of employment. On the demand side the most potent force is growth," he said.
Regarding interventions on the supply side, Dr Rangarajan said that they should be in capacity building and enhancing the skills of the labour force.
Presiding over the function the Minister of State for Labour and Employment, Mr K. Chandra Sekhar Sahu, called for improving the skills of the labour force to improve their employability. He said the Labour Ministry has embarked on making industrial training institutes as `centres of excellence' to impart quality training.
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