India likely to create 16 lakh fewer jobs across govt, low-paying sectors: SBI report1 min read . Updated: 13 Jan 2020, 07:44 PM IST
- Poor job creation risks worsening the highest unemployment rate in 45 years and build pressure on govt, which is already battling the weakest economic growth in over a decade
- Indian economy is officially forecast to expand 5% this financial, stronger than SBI’s prediction of 4.6%
MUMBAI : India will create at least 16 lakh (1.6 million) fewer formal jobs across government and low-paying sectors, State Bank of India estimates, a segment that typically absorbs some of the millions of youth entering the world’s biggest workforce each year.
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