The World Bank forecast that Indian economy will grow at the rate of 7.3 percent for 2019 and 7.5 percent for 2020 has given ray of hope to the people of India. The demonetisation and implementation of Goods and Services Tax (GST) have severely hurt the Indian economy. Just as country was recovering from the effect of demonetization, the government rolled out GST which further dented the economy. But the World Bank report says that economy has recovered from the twin effects of demonetisation and the Goods and Services Tax.
Also the Inflation, based on wholesale prices, eased marginally to 2.47 per cent in March on cheaper food articles, especially pulses and vegetables. It was 2.48 per cent in the previous month. With IMD forecasting normal monsoon for this year, there is enough reasons for the citizens to be optimistic. However the strong economy needs to translate into churning of newer jobs. The burgeoning unemployed population are desperately seeking job. Prime Minister Narendra Modi has managed to steer economy to right path but unless there is enough generation of job it will not count. India has massive youth population and every year lakhs of them becomes eligible for the job. In a hugely populated country like India the lack of employment opportunity has potential to cause social disharmony. The unemployed youths can be easily wooed by the anti-social elements. This will seriously hamper the progress of the nation. With economy back on track now govt should singularly focus on creating jobs for its unemployed youths.