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‘High growth rate has little impact on poverty’

KASARAGOD: The open unemployment rate in the country at present is the highest ever since independence and it is evident that the high growth rate of gross domestic product (GDP) has not increased employment opportunities, State Planning Board Vice-Chairman Prabhat Patnaik has said.

Delivering the keynote address at a seminar on ‘Understanding Development: An Inter-disciplinary Approach’ organised by the post graduate department of Kasaragod Government College here on Tuesday, Mr. Patnaik said high growth rates had not reduced poverty. The percentage of rural population who could be termed poor had increased from 74.5 per cent in 1993-94 to 87 per cent in 2004-05. Similarly, the urban poverty rate had also become high. All this happened at a time when the GDP growth rate was at an unprecedented high of around nine per cent and slogans like India Shining were being raised, commented Prof. Patnaik. Globalisation had increased labour productivity and thereby increased the surplus created steeply. It had not increased the demand for labour and the real wages received by the workers, said Prof. Patnaik.

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