New Delhi: Union Minister of State for Home Affairs Nityanand Rai has rubbished reports of job losses coming from across the country and said that no one was losing jobs, reported The Hindu.
Rai told media persons in Bhopal that unemployment figures were incorrect and that indeed, “employment was increasing.” He also held that the economy was strong and will continue to be.
“The infrastructure is improving, big companies are investing in various sectors, agricultural production has improved and crores of people are taking loans under the MUDRA scheme,” he was quoted by Hindu as having said.
India is in the middle of an economic slowdown which spells wide-reaching consequences. Several reports negate Rai’s claims, like the data released by the government itself in May which noted that India has recorded a 6.1% unemployment rate in 2017-18, according to the Periodic Labour Force Survey of 4.3 lakh people.
The unemployment rate is at a 45-year high.
Reports have also mentioned that the Indian economy has likely expanded at its slowest pace in more than five years in the April-June quarter, driven by weak investment growth and sluggish demand.
The Centre’s projected plan of becoming a five trillion-dollar economy notwithstanding, there has been a massive slump across sectors, most notably automobile. Domestic passenger vehicle sales in July dived at the steepest pace in nearly two decades and declined for the ninth straight month in July, largely due to a liquidity crunch causing huge job cuts in the sector.
In an article for The Wire, Aunindyo Chakravarty noted how several market players were putting out what are, quite simply, pleas for help. “Parle, makers of India’s largest selling biscuit Parle-G, said they would have to lay-off 10,000 people, unless the government lowered GST rates. Auto-makers, and their suppliers, warned of 10 lakh job losses unless the government acted immediately,” he wrote.
Rai, however, held fast to the view that all was well. He also commented on the Chandrayaan 2 Orbiter sending “signals back,” the scrapping of Article 370 strengthening the country’s unity and the 1984 riots case reopening bringing justice.