Amid fears of large-scale lay-offs by companies in the wake of economic disturbance, Planning Commission Deputy Chairman Montek Singh Ahluwalia said that the number of jobs in the country will not go down despite the economic growth of 7 per cent or less.For economy as a whole, including agriculture sector, I don''t believe that the total number of jobs will go down even if GDP growth is at 7 per cent or less than 7 per cent, Ahluwalia said at India Economic Summit.
However, he said, it was quite possible that in some sectors of industry, which were badly affected, there could be some contraction of jobs. On inflation, which has come down to single digit for the first time in the last five months, Ahluwalia said it was expected to go down further. Momentum of inflation in the last six to eight weeks, if deseasonalised, was not a problem, he said, adding, given the slowdown and commodity prices coming down, it is not going to be a problem. During 2007-08, GDP growth was a little over 9 per cent and the average growth in the last four years remained at 9 per cent.
However, he said, it was quite possible that in some sectors of industry, which were badly affected, there could be some contraction of jobs. On inflation, which has come down to single digit for the first time in the last five months, Ahluwalia said it was expected to go down further. Momentum of inflation in the last six to eight weeks, if deseasonalised, was not a problem, he said, adding, given the slowdown and commodity prices coming down, it is not going to be a problem. During 2007-08, GDP growth was a little over 9 per cent and the average growth in the last four years remained at 9 per cent.
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