New Delhi: India might be lagging behind China in terms of economic growth, but when it comes to job creation, the country outnumbers the Dragon. The facts have emerged in a report submitted by the United Nations (UN) agency Economic and Social Commission for Asia and the Pacific (ESCAP) on Thursday.

According to UNESCAP, India has been generating more jobs in comparison to China. There has been a growth of 2.4 percent in employment generation annually in India while in China it remained at 0.9 percent and India generated maximum jobs in Asia region.

Japan’s economy registered an average growth rate of 1.4 percent annually. Despite this the country witnessed a negative growth of 0.1 percent annually in employment generation.

As per the report, India and China will stay the fastest growing economies in Asia Pacific by growing at respective rates of 8.7 percent and 9.5 per cent in the year 2011, above the average of the region.

Reserve Bank of India and Finance Minister Pranab Mukherjee lowered the growth estimates for the economy for 20 11-12, but the UNESCAP projected the outlook for the Indian economy as healthy.

RBI and Finance Minister have pegged the Indian economy's growth in this fiscal at 8 percent.

ESCAP also expressed concern over global inflation which could push more people into poverty.

JPN/Bureau