Jobless growth turning into job-loss growth: Former PM

New Delhi, Feb 18: The "jobless growth" has slipped into "job-loss growth", which, together with rural indebtedness and urban chaos, has made the growing number of aspirational youths restless, former prime minister Manmohan Singh said on Sunday, as he hit out at the government for failing to uplift the economy to its potential.

"Suicides of farmers and frequent farmer agitations reflect the structural imbalances in our economy which call for serious in-depth analysis and political will to address them," the senior Congress leader asserted.

"The jobless growth slipping into job-loss growth, together with rural indebtedness and urban chaos have made the growing aspirational youths restless," he said.

The attempts at creating additional job opportunities in the industrial sector have failed as industrial growth is not picking up fast enough, he alleged.

Singh said the small and unorganized sectors which were vibrant and contributing to the generation of wealth and employment opportunities have grievously suffered in the wake of the "disastrous" demonetization and "slipshod" introduction and implementation of the Goods and Services Tax.

Addressing budding management professionals, Singh told them that they are joining the business world at an important time when India is projected to be one of the top three economies of the world by 2030.