New Delhi: on Thursday,a reports reveal that India's unemployment rate rose to a 45-year high during 2017-2018, report quoted a government survey as showing, in the latest setback for Prime Minister Narendra Modi just months before a tightening election.
Business Standard reported that the evaluation by the National Sample Survey Office conducted between July 2017-June 2018, showed the unemployment rate stood at 6.1 per cent, the highest since 1972-73. 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 delay in its release.
On Wednesday, The head of the government-funded National Statistical Commission P.C. Mohanan said 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.
also read Domestic stock markets close on a flat note ahead of China-US trade talks
However, India's economy has been increasing by 7 per cent 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.
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.
also read The rupee depreciated by 25 paise to 71.36 against the US dollar