Human resource as a part of services sector is the largest contributor to the Indian economy, said Finance Minister Arun Jaitley on Tuesday.
“India with such huge population has the human resource to manage and contribute towards Indian economy which differentiates it from other developed countries,” he said at an event at the Vivekananda Institute of Professional Studies.
Exhorting students to take part in the expanding economy, Jaitley said that while the developed countries are grappling with a fast ageing population, India is unique in its demographic situation that reflects a highly aspirational middle class.
“The last decade has witnessed an important unprecedented change. People in their thirties are contributing the most to the growth of the economy,” he added
He, however, noted that the huge population also presents challenges to the country.
“India also faces challenges with such huge population. Students or graduates have to take important decisions and work very hard to reach higher levels and achieve standards of excellence,” he said.