by admin | May 25, 2021 | Employment, News
New Delhi : The unemployment rate in India stood at a 45-year high during 2017-18, according to a report of the National Sample Survey (NSS) office which has not been published, over which two members of the National Statistical Commission (NSC) resigned in protest on Tuesday.
The report, which the government had withheld from being released and accessed by Business Standard newspaper, said the unemployment rate was 6.1 per cent in 2017-18, post demonetisation, and was at its highest level since 1972-73 — the period since when the jobs data is comparable.
NSC acting chief P.C. Mohanan and his colleague J. Meenakshi were unhappy over the non-publication of the job data that had been due for release in December last year, apparently in view of the approaching Lok Sabha elections.
The findings of the periodic labour force survey report assumes significance as it is considered the first comprehensive survey on employment conducted by a government agency after the November 8, 2016 demonetisation decision.
According to the NSS report, joblessness was higher at 7.8 per cent in urban areas and 5.3 per cent in rural areas. Also more people were withdrawing from the work force as the labour force participation rate stood at a lower level than the previous few years.
The joblessness rate among youth was at a significantly higher level in 2017-18 compared to the previous years and “much higher compared to that in the overall population,” the report says.
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.
The Ministry of Statistics and Programme Implementation said it not only placed a high regard for the Commission but also valued its advice and on which appropriate action was taken.
—IANS
by admin | May 25, 2021 | Economy, Employment, News, Politics
New Delhi : With the economy slowing down and joblessness becoming a major issue, the newly-constituted Economic Advisory Council to Prime Minister Narendra Modi on Wednesday identified 10 major priority areas including accelerating economic growth and employment over the next six months.
The 10 themes were identified during the first meeting of the council chaired by NITI Aayog Member Bibek Debroy. The council was reconstituted a fortnight ago in what was seen as the government acknowledging for the first time the problem of economic slowdown.
Apart from giving recommendations to the Prime Minister on these issues, the EAC-PM would also focus on the next budget preparation over the coming months, Debroy told reporters here after the meeting.
During the meeting, Chief Economic Advisor Arvind Subramanian focused attention on accelerating economic growth — including investments and exports — using a combination of different policy levers.
The council took stock of the current economic, fiscal and monetary policy environment and resolved to focus on key identified issues.
“We have identified 10 themes that we would initially work on till we have our next meeting one month from now,” Debroy said.
“The 10 themes identified are economic growth, employment and job creation, informal sector and integration, fiscal framework, monetary policy, public expenditure, institutions of economic governance, agriculture and animal husbandry, patterns of consumption and production, and the social sector,” he added.
Debroy said the entire thrust of the council would be on specific implementable recommendations, which would distinguish it from other bodies.
“Our view will be on specific thing you can change,” he said.
The council members would come up with a report in the coming months through consultative processes with ministries, states, private sector and other stakeholders.
They would also come out with specific issue papers to address key concerns, a statement said.
—IANS
