Even after the lifting of restrictions imposed for the prevention of corona virus epidemic in the country, people are not getting enough employment.
This is the reason that the unemployment rate in the country has increased to 7.83 percent in April, compared to 7.60 percent in March. In such a situation, the unemployment rate has increased by 0.23 percent.
This has been revealed in the report released by the Center for Monitoring Indian Economy (CMIE).
Unemployment rate decreased in villages if increased in cities
The CMIE report said that the urban unemployment rate in the country rose to 9.22 per cent in April, from 8.28 per cent in the month of March. In such a situation, the unemployment rate in urban areas has increased by 0.94 percent.
In contrast, there has been a decline in the rural unemployment rate. The rural unemployment rate stood at 7.29 percent in March, which declined by 0.11 percent in April to 7.18 percent.
Haryana has the highest unemployment rate
According to the CMIE report, even though the unemployment rate of the country is 7.83 percent, it is highest in Haryana at 34.5 percent. Similarly, Rajasthan ranks second in unemployment rate with 28.5 percent. This is a matter of great concern.
What is the reason for rising unemployment rate?
According to CMIE, economists say the slow pace of economic recovery amid sluggish domestic demand and rising prices has affected employment opportunities. In such a situation, people could not get employment as per their requirement.
Let us inform that from April 1, most of the states had tried to speed up the economy by removing Corona related restrictions, but due to rising inflation and low demand, not enough employment opportunities were created.
Unemployment is also increasing the feeling of insecurity- Vyas
CMIE Managing Director Mahesh Vyas said, “I agree that the government has failed to create good jobs. People are constantly exiting the labor market due to lack of job security. We see this as a sign of distress. People have given up looking for jobs as well as exiting the labor market.”
“The government should create a sense of security along with creating good jobs,” he said.
There is also a decrease in new customers of EPFO
According to the National Statistical Office (NSO) data, the Employees’ Provident Fund Organization (EPFO) has added more than 5.18 crore new subscribers from September 2017 to February this year. In this, about 9.34 lakh new employees have been added in February alone.
This figure is about two lakh less than the 11.14 lakh customers in January. It is clear from this that at present people in the country are not getting employment as per their requirement.
Inflation increased in this way in the country
In the month of March, the rate of retail inflation in the country rose to 6.95 percent, which reflects the increase in the price of food items. Inflation in February stood at 6.07 per cent.
At the same time, fertilizer inflation rose to 7.68 percent in the month of March, which was 5.85 percent in February. The prices of edible oils rose by 18.79 per cent in March on a year-on-year basis. As a result, there was a sharp rise in inflation.
GST collection reaches record level
Goods and Services Tax (GST) collections hit a record high of Rs 1,67,540 crore in April on the back of better compliance and faster economic recovery . The Finance Ministry on Sunday said that there has been 25,000 crore more GST collection in April as compared to March (Rs 1,42,095 crore).
Maharashtra has the highest GST collection of 27,495 crores, Karnataka 11,820 crores, Gujarat 11,264 crores, Uttar Pradesh 8,534 crores, Haryana 8,197 crores.