India unemployment rate highest in 45 years


After reports of the resignation in the media, the government on Wednesday said the two NSC members had not expressed their concerns in any of the meetings of the Commission in the last few months. NITI Aayog vice-chairman Rajiv Kumar said that the "veracity of the data is not known".

The news report further said that unemployment was higher in urban areas (7.8 per cent) as compared to 5.3 per cent in rural areas of the country.

The report had primarily relied on data from NSSO and the Labour Bureau's Employment-Unemployment Survey.

On Wednesday, the Ministry of Statistics & Programme Implementation had denied this in a statement, saying that the report would be released once quarterly data between July 2017 and December 2018 had been processed.

On Thursday, soon after the damaging report on job creation under the Modi government appeared - the first survey since demonetisation was accounced in Novermner 2016 - the government fielded Niti Aayog top officials to debunk it as a "draft not yet finalised" and to counter the Opposition's attacks.

The numbers show that Modi's ambitious Make-in-India project, which aims to lift the share of domestic manufacturing from 17 percent of gross domestic product (GDP) to about 25 percent and create jobs for an estimated 1.2 million youth entering the market, has failed to take off.

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The report also says youth unemployment is at "astronomically high" levels of 13 to 27 per cent.

Niti Aayog CEO Amitabh Kant said the suggestion that the government is trying to hide something was incorrect. "Every year, 7-8 million jobs are created which are sufficient for new entrants".

PM Modi is facing growing discontent over depressed farm incomes and doubts over whether his policies are creating enough jobs. The results of the job survey, as reported by the Business Standard, is in sync with another survey done by Centre for Monitoring Indian Economy, which stated that 11 million Indians lost their jobs in 2018, with rural India taking the worst hit reporting 84% of the job losses.

A report released by the All India Manufacturers' Organisation said last month 3.5 million jobs had been lost since 2016, mainly due to demonetisation and rising working costs after the launch of the national tax.

The Congress and the BJP invoked Hitler and Mussolini as they sparred over data withheld by the government which show that unemployment rate rose to a 45-year high.

"This is why members of NSC resigned", he said. "The results of the PLFS will be brought out in the form of an Annual Key Report, which would contain detailed tables for both rural and urban sectors, and quarterly bulletins, which would contain, for the urban sector, estimates of the changes in key labour force parameters", according to the NSSO website. Promise of 2 crore jobs turned out to be a cruel joke. That was the highest since 1972-73, the period since when jobs data are comparable.