The Ganga of development is flowing in reverse under Modi’s rule. That’s why the growth rate has gone into minus. Same is the case with jobs as well.
Nearly 1.2 million people have lost their ‘salaried jobs’ since the second wave of the corona pandemic hit. Now in all, 39 crore people have some work left.
According to the report of the Center for Monitoring Indian Economy (CMIE), since the beginning of Corona, the income of 97 percent of the families has seen a significant impact. Their financial condition is worse than before.
CMIE Chief Executive Officer Mahesh Vyas said that the unemployment rate in April was 8 percent. In May, it has increased to 12 percent.
This means that between 1 crore 10 lakh to 1 crore 20 lakh salaried jobs have been lost.
It is worth noting that by the end of May 23, the country’s weekly unemployment rate had gone up to 14.7 percent. This figure is the highest since June 2020.
Simultaneously, according to the data released by the government, India’s growth rate has fallen to -7.3% in the financial year 2021. This is the worst figure ever in the last 40 years.
The rise of unemployment and the collapse of the economy are not responsible for the Corona epidemic alone. Even before this, the country’s economy was in shambles after many years. In the year 2019, the Labor Ministry had told that unemployment in the country is the highest in the last 45 years.