The government is facing a growing employment crisis which its various initiatives are unable to address.
According to a report in a national daily, there may be tougher days ahead for Indian youth. And if the indication coming in after the major IT and BPO giants gave clear indications of headcounts, things may be heading for the worse.
According to a recently-released report covering eight key sectors of the non-farm economy, while the economy is growing at just over 7% per year, jobs increased by just 1.1% last year.
That means in simple days that the government going to see major employment in coming days. And this may not be music to Modi government's ears.
Uttar Pradesh CM Yogi Adityanath, who is known to touch all issues concerning common man had also promised to address the jobs situation in UP. The state itself has an estimated 1 crore unemployed, according to the report.
Nearly half of the new jobs added were in education and health. Both these sectors are known for low paying jobs. Construction and the hospitality/food sectors showed loss of jobs, the most serious ones, amounting to a dip of nearly 7%, is in construction.
News24Bureau. Figures from Times of India