Debt pile among corporates has "stunted" job growth, says Kumar Mangalam Birla
Updated : September 18, 2018 11:20 PM IST
He hoped once the troubles with banking non-performing assets (NPAs) are resolved, which will lead to more credit growth and investments for banks, there will be a pick up in job creation in the economy.
This lack of ability to invest, coupled with change in banking norms to being more stricter, is "one reason why the employment generation has been stunted", said Birla.
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
THANK YOU! You made our day. See you every morning
YOUR EMAIL IS ON ITS WAY. Check your inbox for future updates.
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more