Prime Minister Narendra Modi said his government needs to create jobs to keep up to the aspirations of the middle class.
"The middle class has its aspirations. We have to create jobs? How will job creation happen? Till I invest in the development of infrastructure, there be no job creation," Modi said in an interview to Times Now, a news channel.
He said the maximum electricity generation since Independence has occurred this year, as well as the maximum amount of coal mined, the maximum length of roads being constructed daily and the fastest loading and unloading of ships at ports.
"All these changes are creating opportunities for employment like in Start-up India, Stand Up India. For instance in Stand Up India, I have said that every bank should give an economic opportunity to one woman, one Dalit or one tribal person to become entrepreneurs. This will create many job opportunities. So this is the basis of my economic philosophy,” the prime minister said.
About the demographic dividend of the country, he said: "The first thing is that are 800 million people below the age of 35 in our country. We have to accept that the demand for jobs is very high. But where will they get employment? Investment will come in. It will be used in the infrastructure sector, manufacturing and services sector."
About the government's Mudra Yojna, he said: "More than three crore people in the country comprise washermen, barbers, milkman, newspaper vendors, cart vendors. We have given them nearly Rs 1.25 lakh crore without any guarantee.
"Now why have these people taken the money? To expand their work. When he expands his work, if he is currently employing one person, now he has to employ two people. If there were two employed earlier, now there are three.
"Now just think, when 3 crore of these small businesses have got access to finance, they must have expanded their work. Now all this is not in the Labour Department's registration. Three crore people have expanded their work.”
Mentioning about other small decisions of the government, Modi said: “The big malls in the country run 365 days a year but the smaller shops have to close on holidays. We announced in the budget that even a small shopkeeper can operate his shop till late night and that too on all the seven days of the week. If the malls don't have restrictions then why should the small shopkeepers have restrictions.
"So now if a shopkeeper operates his shop till late and on all seven days, if he earlier employed one person, now he will have to employ two people. So won't the employment increase?"
“Our focus is on all aspects. Now we are saying that by 2022 we want to ensure that everyone has a house. Housing sector has the maximum potential for creating employment. Houses will be built in such huge numbers, how many people will get employment?” the prime minister added.