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Showing posts with label GDP FY18. Show all posts
Showing posts with label GDP FY18. Show all posts

Twelve of India’s large states grew faster than the national GDP in FY18

Twelve of India’s large states grew faster than the national GDP in FY18, but their growth failed to create jobs, PTI says, citing a report by ratings agency Crisil. That’s because most of the growth came from sectors that are not job-intensive. Eleven of the 17 states classified by the RBI as “non-special” lagged the national average in growth of employment-intensive sectors such as manufacturing, construction and trade, hotels, transport and communication services, the report notes (see pdf). Earlier this month, the Centre for Monitoring Indian Economy said the country lost 1.1 crore jobs in 2018, with 80% of the loss in rural areas.