Monday, June 5, 2023

Record in unemployment!.. Center failed to generate employment

Record in unemployment!.. Center failed to generate employment

  • in the first three weeks of the month
  • unemployment rate of more than 8 percent
  • This is the highest since the lockdown!
  • CMIE chief Mahesh disclosed

New Delhi, December 20: Unemployment is increasing in the country. The Modi government at the Center has miserably failed to create jobs commensurate with the growing workforce. The unemployment rate was at a record high of more than 8 percent in the first three weeks of this month. This is the first time after the lockdown in the country that the unemployment rate has been recorded at this level. Mahesh Vyas, head of the Center for Monitoring Indian Economy Pvt Ltd, revealed these details in a recent article in a national magazine.

The urban unemployment rate at 10.9 percent.
Vyas revealed that the labor force is increasing, but job creation is not happening. The urban unemployment rate hit a record high of 10.9 per cent in the week ending May 19. At the same time, the rural unemployment rate was recorded at 8.4 percent. In the previous numbers it was 7.6 per cent. Vyas said that the increase in unemployment in the last few months is worrying.

Reduced regular staff in public sector organizations
The BJP government, which came to power by promising to create crores of jobs, is working to eliminate the existing jobs with great success. On the one hand, the Modi government, which is making public sector organizations a stumbling block, is cutting regular jobs in them on a large scale. After 2014, the number of regular employees in central government sector organizations is gradually decreasing. On the other hand, the number of contract employees is increasing gradually.

This fact has been disclosed by the Central Government itself. In the Rajya Sabha on Tuesday, Union Minister of State for Finance Bhagwat Karad gave a written answer to a question in the House and gave an account of job cuts. As on 31 March 2014, there were 13.51 lakh regular employees and 3.08 lakh contractual employees in central institutions. The number of regular employees is expected to come down to 9.22 lakh by 2022. At the same time, the number of contract employees increased to 4.99 lakh. The minister informed that these changes have been made as part of savings and capacity building measures. He said that the surplus funds thus received are being utilized for the development of infrastructure systems.

Rs 4 lakh crore from privatization
Since the Narendra Modi government came to power in 2014, the Center has raised Rs 4.04 lakh crore through strategic stake sale of public sector enterprises and other disinvestment activities. The Central Finance Department itself disclosed these information on Tuesday. Of this, Rs 1.07 lakh crore has been raised by selling shares of 59 companies through Offer for Sale (OFS) and Rs 98,949 crore has been raised by selling PSU shares through Exchange Traded Funds of 10 companies in the last eight years. Charan, the Finance Department has disclosed.

Other information…

  • 69,412 crore with strategic sale of 10 companies including Air India.
  • 45,104 crore through buyback of shares in 45 cases.
  • Since 2014-15, the share market of 17 Central Government companies has crossed Rs. Raised 50,386 crores. Out of this only Rs. 20,516 crores.

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