This person clearly understood India doesn’t have a jobs problem — our unemployment rate of 4.9 per cent is not a fudge — but a wages problem. If the problem is jobs, we should throw money from helicopters and bust the government budget. First, Rs 18 lakh crore new lending capacity. Assuming Rs 3 lakh crore and applying an accepted 6 multiplier, demonetisation has created new lending capacity of Rs 18 lakh crore (36 times India’s Central government allocation to primary education). Third, 3 lakh crore new financial savings.

Source: Indian Express November 06, 2017 19:30 UTC