Davos, Jan 29 (PTI) India''s Home Minister P Chidambaramtoday made a strong case for moving farm workforce to industryand services to make growth inclusive, saying that theagriculture sector which employs a large number of peoplecannot grow beyond 4 per cent in the long-term.
"We should move more and more workforce to services andindustry....I think real problem is how do we shift bulk ofthe workforce in services and industry", he said in adiscussion on inclusive growth organised by NDTV at the WorldEconomic Forum (WEF) meeting here.Chidambaram, who was earlier Finance Minister, arguedthat as agriculture sector cannot grow beyond 4 per cent, itwas necessary to move people to industry and services whichhave the potential of expanding at 12 per cent.
Admitting that leakages do occur in programmes run by thegovernment, the Minister made a strong case for improvinggovernance.
When quizzed by the participants on the quantum ofleakages, Chidambaram said they varied from state to state andfrom programme to programme.
On wealth creation, he said, the government was neveropposed to it. The real problem, he added, was re-distributionof wealth which is being done by programmes like ruralemployment guarantee scheme and universal education.
Chidambaram also said that unlike in China, there is astrong business lobby in India which is opposed to ForeignDirect Investment (FDI) in several sectors.
China, he added, did not have any domestic business lobbywhen it opened its economy to FDI.
Participating in the discussion, ICICI Bank ManagingDirector Chanda Kochhar said that the country needs toeducation people to make the growth inclusive.
"Merely giving loans to people is not enough. They shouldalso have the ability to absorb and use funds", she added. PTIPC RR NKD CS SA