The recent reduction in corporate tax rate to encourage investments and attract foreign capital will take some time to show results. But, in the meantime, we still need economic growth to pick up. Economics 101 states growth will create jobs. I have another view: we must create new jobs to stimulate growth. For this to happen, central and state governments will have to join hands and evolve a joint action plan for short-term and medium-term results. The short-term plans should include solutions for India needs to add manufacturing to the still overwhelmingly agricultural rural economy to create jobs. This can be done by setting up units in food processing, dairy, poultry and fisheries. Acold chain will preserve perishables and increase farm incomes. Units for bio-energy, garments, footwear and souvenirs can be set up in barren lands near villages. Jobs in the services sector, such as retail, mobile and computer repairs, personal grooming, nursing, transport and agri-tourism will also help in development. Provision of urban amenities to rural areas are required beyond, say, 25 km of municipal limits of district towns. But, for this, GoI should give an income-tax holiday for five years, and state governments should grant exemptions from some regulatory permissions and the inspector raj for the same period.