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21
January 2019
 |
| Job(The
Total Investment & Insurance Solutions) |
Even as 12 large states grew faster than
national GDP in FY18, the same has not translated into job creation, as GSDP
expansion has come in from sectors which are less job-intensive, says a report.
The Crisil NSE -1.82 % report comes in the immediate backdrop of a report by
the independent thinktank Centre for Monitoring Indian Economy which said as
many as 1.1 crore jobs were lost in 2018 alone.
"Growth has not quite been conducive to
job creation in a majority of the states," Crisil said Monday. It said 11
states have recorded lower growth in employment-intensive sectors such as
manufacturing, construction and trade, and hotels, transport and communication
services, compared with the national rate. In Gujarat, Bihar and Haryana,
growth could have been more employment generating sectors have grown the
fastest, it said, adding Rajasthan, Jharkhand and MP recorded the lowest
growth.
No wonder of these the first and the last
states voted the incumbent BJP governments in the December elections. The
report said 12 states grew faster than nation last fiscal. The growth has not
been equitable, it said, pointing out that the chasm on per capital income
between low-income states and high income states has only widened. The Total Investment & Insurance
Solutions
Most states were found to have veered off the
targets under the fiscal responsibility and budget management act, the report
said, adding because of the pressure on fiscal deficitfor the Centre, the
states have become the engines of government spending, accounting for a bulk 65
percent of the total money spent. Rajasthan, Jharkhand and UP topped the tally
in proportion of capex in state spending in the past three years, it said.
However, critical areas including health,
irrigation and education did not get as much attention on spending as it ought
to have been, it added. Going by the three crucial factors of inflation, growth
and fiscal deficit, Gujarat and Karnataka remained among top three performing
states, it said, adding Kerala and Punjab stayed stuck in the bottom three
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