Modi government's economic policies failed to create jobs: Economist

Renowned economist Prem Shankar Jha called demonetisation the most disastrous decision of the Modi Government and has emphasized on the fact that even today 90% of our economy is still running on cash.

New Delhi: Discussing financial issues ahead of the 2019 elections, ETV Bharat spoke to renowned economist Prem Shankar Jha. Jha in his opinion was critical of the Modi government's economic policies for not creating enough jobs for the youth of this country.

"I want to ask the Modi government where are the job creation promises in their tenure? Over 11 million people have lost their jobs and 1 million medium and small enterprises have been forced to shutdown. The number with micros being shut down are a lot more. These people are having such high interest rates with no demand and hence ruining in the economy. It only goes on to show that Modi government does not understand economics".

Describing the problems further, Professor Jha explained that the construction sector which was the biggest employment generator after agriculture had been virtually shut down due to demonetisation and even in agriculture sector the migrant labours have been affected very badly due to the decision.

Jha called demonetisation has the most disastrous decision of the Modi Government and emphasize on the fact that even today 90% of our economy is still running on cash, " there is nothing wrong with the cash economy it's just that unaccounted income needs to be taken hold off but the demonetisation has failed to do that".