Unemployment rate highest in 45 years, says survey - govt withholds report

Unemployment rate highest in 45 years, says survey - govt withholds report

Unemployment rate highest in 45 years, says survey - govt withholds report

If the report is made public, and if it does show that unemployment peaked in the aftermath of the note ban, it will deflate the government's relentless attempt to give the drastic measure a positive spin.

The Congress president's fresh attack on PM Modi follows a news report that claimed that the NSSO survey for 2017-18, the first conducted after demonetization, showed a sharp spike in joblessness in the country.

The unemployment is at high of 6.1% during the 2017-18 post demonetization era and has stirred controversy as the government is sitting over it and fudging other data points as well. "6.5 crore youth were jobless in 2017-'18 alone".

The Opposition has been targeting the Modi government over demonetisation, announced in November 2016, when 86 per cent of the currency was withdrawn in one stroke.

In September 2018, economists from Azim Premji University released a report which said that in 2015, the headline rate of unemployment reached 5%, with youth unemployment at a very high 16%.

The damning revelation comes just a day after a controversy erupted over the central government's refusal to release the report on unemployment despite the National Statistical Commission giving its approval in December a year ago.

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After the chaotic launch of Goods and Services Tax (GST) in July 2017, hundreds of thousands have lost jobs in small businesses.

The government declined to confirm or deny the findings contained in the report.

The row over the NSSO jobs report comes just months before Lok Sabha elections are to be held. The unemployment rate for rural women stood at 13.6 percent, compared to 4.8 percent in 2011-12. With their departure the body is left with just Chief Statistician Pravin Srivastava and plan body NITI Aayog's Amitabh Kant.

Modi came to power in 2014 promising to galvanise the economy and boost employment prospects for the millions of young Indians entering the job market each year.

Two top officials of the National Statistical Commission had resigned on Monday stating that the government withheld the report. 5 years later, his leaked job creation report card reveals a National Disaster.

Earlier this month, the Centre for Monitoring Indian Economy, a leading independent think-tank, said the country lost as many as 11 million jobs previous year.

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