No layoffs even at seven percent growth: AhluwaliaNovember 19th, 2008 - 5:12 pm ICT by IANS
New Delhi, Nov 19 (IANS) Even as fears of large-scale job cuts grip all major economies around the world, a top government official said here Wednesday that the total number of jobs in the country will not go down even at seven percent growth rate.”It is possible that in some sectors of the industry, which were badly affected, there could be some contraction. But the total employment will not go down,” Planning Commission Deputy Chairman Montek Singh Ahluwalia told reporters.
If the economic growth comes down from nine percent to seven percent, less jobs will be created than expected, but there would not be layoffs, he said.
At present, the aviation and the software industries have reported lay-offs. The unorganised sector has also started shedding jobs as production has gone down steeply due to demand slump.