Raghuram Rajan Believes India Should Focus on Industry & Services
Raghuram Rajam, Former Governor of Reserve Bank of India stated on Friday that the country should encourage its workforce to step out of the agricultural sector to move into the industry and services as the latter will provide the population with higher income.
"We have to try and give people the ability to move out of agriculture into industry and services, where income is much higher. We need to figure out ways to do this," Rajan said here.
He added that the populace should not be afraid of machines replacing humans because society has always found ways of adapting to industrialization and mechanization which worked well in the past.
"Two hundred years since the industrial revolution, jobs are still around. People and society adapt to do the things that machines cannot do," he s...