In the latest setback for Prime Minister Narendra Modi just months before the Lok Sabha elections. India’s unemployment rate rose to a 45-year high during 2017-2018, the Business Standard newspaper on Thursday quoted a government survey as showing,
Earlier this month, the Centre for Monitoring Indian Economy, a leading independent think-tank, said the country lost as many as 11 million jobs last year.
The assessment by the National Sample Survey Office conducted between July 2017-June 2018, showed the unemployment rate stood at 6.1 percent, the highest since 1972-73, Business Standard reported.
The survey has become a political issue after the acting chairman and another member of the body that reviewed the job data resigned saying there was a delay in its release.
The head of the government-funded National Statistical Commission P.C. Mohanan said on Wednesday that he and colleague J. Meenakshi were unhappy at the non-publication of jobs data that had been due for release in December and alleged interference by other state agencies over backdated GDP data.
Business Standard said the report showed that joblessness stood at 7.8 percent in urban areas compared with 5.3 parts in the countryside.
The data is significant because this was the first comprehensive assessment of India’s employment situation conducted after Modi’s decision in November 2016 to withdraw most of the country’s banknotes from circulation overnight, the report said.
India’s economy has been expanding by 7 percent plus annually the fastest pace among major economies but the uneven growth has meant there are not enough jobs created for millions of young Indians entering the workforce each year.
This has put pressure on Modi as he seeks to retain power in a general election due by May.
Share via Prime minister Narendra Modi on Thursday accused Trinamool Congress (TMC) workers of ”vandalizing” the statue of social reformer Ishwar Chandra Vidyasagar at Kolkata during BJP president Amit Shah’s roadshow on Tuesday. ”TMC hooligans vandalized Vidyasagar’s statue….we will install his statue there,” Modi said addressing an election rally at Mau, about 50 kilometres Read More…
Share via DMK President M K Stalin on Tuesday dialled his Congress counterpart Rahul Gandhi and asked him not to step down as President of the national party. In the telephonic conversation, Stalin told Rahul that though he has lost the elections, he has managed to win the hearts of the people. On Read More…
Share via Dhoni and Jadhav joined forces in a tricky situation but were then involved in an unbroken 141-run stand for the fifth wicket to steer India to a comfortable six-wicket win in Hyderabad Also clinical bowling performance backed up by unbeaten half-centuries from Kedar Jadhav and MS Dhoni helped India take a 1-0 Read More…