India Has a Big Jobs Problem, and It Could Be Getting Worse
- Manufacturers seen cutting 40% of jobs in 2017 as growth slows
- Top 1% of population holds record 22% of wealth, study shows
A worker unloads vegetables from a truck at a market in Chennai.
Photographer: Prashanth Vishwanathan/BloombergThis article is for subscribers only.
Prime Minister Narendra Modi has a jobs problem.
He swept to power three years ago promising India’s poor and middle classes he’d restore their "dignity" after years of swelling inequality, with job creation central to his pitch. But now, the jobs market has been slugged by last November’s shock cash ban and July’s imposition of a goods and services tax.