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Business
Former RBI Chief Calls for Employment‑Intensive Growth in India
✍️ Business Standard
🗓 22 Oct 2026, 10:46 AM
👁 15
Ex‑RBI chief Raghuram Rajan urged India to prioritize employment‑intensive growth over merely rapid economic expansion.
Former Reserve Bank of India chief Raghuram Rajan said on Tuesday that India’s growth strategy should focus on creating jobs rather than just accelerating GDP growth.
Rajan, who served as RBI governor from 2013 to 2018, highlighted that a high‑growth trajectory without corresponding employment gains can lead to widening income inequality.
He urged policymakers to design reforms that boost productivity while ensuring that the benefits reach the working class, thereby fostering inclusive development.
The former central banker added that India’s demographic dividend could be fully realized only if the economy becomes more employment‑intensive.
Rajan’s remarks come as India seeks to balance its ambitious growth targets with the need for job creation amid a rapidly changing global economy.
Rajan, who served as RBI governor from 2013 to 2018, highlighted that a high‑growth trajectory without corresponding employment gains can lead to widening income inequality.
He urged policymakers to design reforms that boost productivity while ensuring that the benefits reach the working class, thereby fostering inclusive development.
The former central banker added that India’s demographic dividend could be fully realized only if the economy becomes more employment‑intensive.
Rajan’s remarks come as India seeks to balance its ambitious growth targets with the need for job creation amid a rapidly changing global economy.