According to the World bank assumptions, the work force in India will increment by 1.3 million people and to bring harmony India should create about 8.1 million jobs annually to preserve its employment rate which reduced at a very fast pace in the last one decade.
The bank forecasts about 7.3 percent growth rate in India this years and 7.5 percent for the next years and 2020. It also noted that the country has recovered well from the effects of demonetisation and the implementation of goods and services tax.
Looking forward to coming back to business and making subsequent growth in order to rebalance the lost assets, only investment could help improve the GDP growth to a better extent.
The report also mentions that India will have to participate more into exporting , this will help agitate it’s business .
The implementation of the 7th pay commission supported the public and private consumption to accept peace and secondly due to rejuvenation after the monsoon and agricultural impetus
While on the other side of the wall output growth experienced a downfall to 6.9 percent in financial year 2016 from 9.4 in the previous year. The overall demand faded as investments started to abate.
The proper recovery from demonitisation demands employment on a greater scale and surely by 2020 India will be rocking the world.