Tue, 16 May 2017
Shri Jairam Ramesh said that
the RBI yesterday published some figures for 2016-2017 which showed marginal
increase in the Bank credit. In the past 60 years such minimal increase in Bank
credit was not witnessed as in 2016-2017. Bank credit which goes in our
economy, which goes in our industry, which goes in business, the increase was
just five percent. We did not see this during the past 60 years.
But matter of concern is that in the two years of Modi government,
just 4.4 lakh jobs were created. These are the figures of the Labour Ministry.
In the service sector, in industrial sector and in comparison to first two
years of UPA-2, as the survey is done by Ministry of Labour that started since
2008. In the first two years of UPA-2, 21 lakh jobs were created and in the
first two years of Modi government, 4.4 lakh jobs were created, that is, that
five times more jobs were created during the UPA-2 period.
In the estimation of the GDP (Gross Domestic Product) there were
serious mistakes. They were ignored as there are other measures attention
showing increase in GDP. As I have mentioned earlier about Bank credit, production
of power and if you see them, then another picture comes to mind. Saturday,
15th April, 2017.