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SSI Credit For Capital Starved Country with Rampant Unemployment

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  • Subodh Dave

Abstract

Theories have proved that investment and unemployment are inversely proportional. The Government has laid emphasis on fiscal control and suppressing inflation in the economy, thus defying the relevance of classical theory of Keyens. Unlike China, Japan and United States, India has not laid much emphasis on the investment in the Small and Medium Enterprises (SME) sector, which could provide the torque to the economy and offer employment. Statistics and research findings also show that the SSI sector is labor intensive as compared to the organized manufacturing large-scale sector. In the light of the government's changing policies, the public and the private sector banks have not kept pace when coming to the credit flow to the SSI sector. Bankers are now banking on safe lending than acting as agents of the economic development. It is now felt from the studies that the government must act fast to direct the credit flow to the capital starved SSI sector, which could set the economic development into motion.

Suggested Citation

  • Subodh Dave, 2004. "SSI Credit For Capital Starved Country with Rampant Unemployment," The IUP Journal of Applied Economics, IUP Publications, vol. 0(1), pages 57-67, January.
    • Handle: RePEc:icf:icfjae:v:01:y:2004:i:1:p:57-67
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