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LATEST NEWS UPDATES | An urban jobs safety net -Rajneesh

An urban jobs safety net -Rajneesh

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published Published on Aug 12, 2021   modified Modified on Aug 12, 2021

-The Hindu

It is time to formulate a wage employment-based national urban livelihood scheme similar to MGNREGS

During the pandemic, we have again and again faced the difficult choice of saving lives versus protecting livelihoods. According to the World Economic Outlook report of April, 2021 of the International Monetary Fund (IMF), almost all countries, except China, experienced economic contraction last year. The global GDP shrunk by 3.3%. The contraction in the U.S., Brazil, Japan, Canada and Euro Area was in the range of 3.5%-7%. India’s GDP plummeted by 8%. China, on the contrary, posted a growth of 2.3%. The report stated that 95 million people have fallen into the ranks of the extreme poor category. The unemployment rate in the Euro Area, the U.S. and Canada shot up to 7.1%, 8.1% and 9.6%, respectively. Spain, Greece, Turkey, the Philippines, Argentina, Brazil, Colombia, and Peru among others are grappling with unemployment rates in double digits. As per the Centre for Monitoring Indian Economy’s estimates, the unemployment rate in India peaked to 23.5% in April 2020 before falling to 6.9% in February 2021.

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The Hindu, 12 August, 2021, https://www.thehindu.com/opinion/op-ed/an-urban-jobs-safety-net/article35864490.ece?homepage=true


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