Unemployment biggest worry in India, world's fastest growing economy: Reuters poll [Reuters]
SOCIETE GENL FRNCE S/ADR (SCGLY)
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Source: Reuters
polled by Reuters who expected the world's most populous country to grow a healthy 6.5% this fiscal year. Despite growing at the fastest pace among major peers, the economy has failed to generate enough jobs for its large and expanding young population, a key issue among citizens in the midst of electing the next government. A majority of economists, 15 of 26, in the April 16-23 Reuters poll who answered an additional question said the biggest challenge for the government after the national election would be unemployment. Eight said rural consumption, two picked inflation and one said poverty. "Following a decade of near jobless growth, the rising number of discouraged workers had pushed India's LFPR (labour force participation rate) down well below levels exhibited by the four Asian tigers at comparable stages in their demography," said Kunal Kundu, India economist at Societe Generale. "Bharatiya Janata Party's focus on existing employment drivers (infrastructure, manufactu
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