India Needs 10 Million New Jobs Annually to Sustain 6.5% GVA Growth through FY30

Current Context: The report by Goldman Sachs is titled "What is Driving Job Growth? - Navigating through Sectoral Shifts in Indian Labour Markets".

• It was released on October 30, 2024. 
• The report was authored by Goldman Sachs' team of economists and analysts.
• Key points from the report include:
• India needs to create 10 million jobs annually from FY25 to FY30 to maintain an average GVA growth of 6.5%.
• Recommendations include incentivizing affordable housing, expanding IT hubs to smaller cities, and supporting labor-intensive manufacturing sectors.

Question:

1 According to Goldman Sachs' report, how many jobs does India need to create annually from FY25 to FY30 to maintain an average GVA growth of 6.5%?

• A) 10million
• B) 5 million
• C) 15 million
• D) 20 million

Answer: A) The report highlights that India must create 10 million jobs each year from FY25 to FY30 to sustain a 6.5% average growth in Gross Value Added (GVA).