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LATEST NEWS UPDATES | In search of a job -Muthukumar K & Seetharaman R

In search of a job -Muthukumar K & Seetharaman R

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published Published on Apr 24, 2017   modified Modified on Apr 24, 2017
-The Hindu Business Line

Prime Minister Narendra Modi promised one crore jobs during the 2014 elections. At the present rate of job creation, this will take 30 years. Muthukumar K and Seetharaman R report on the employment crisis

Raj Abraham (name changed on request), a first-year student at a leading management institute in Chennai, is a bit anxious these days. Ask him how his seniors are faring in campus placement and the 22-year-old says: “The placement scenario has worsened over the last three years.” He is hopeful of a turnaround by the time his turn comes.

Raj will be among the 13 million youngsters who will join the Indian workforce next year. Over the next 10 years, 130 million more will — giving the economy an opportunity to reap the ‘demographic dividend.’ An expanding workforce will fuel the economy.

Well, yes, in theory.

The ground situation is different. Since the UPA-II Government, job creation has taken a beating. And it has worsened in the current regime, as indicated by the the quarterly survey (for eight industries) of the Ministry of Labour & Employment’s Labour Bureau. Under the leadership of Prime Minister Narendra Modi, 3.4 lakh jobs are being created a year, half of the rate in the UPA-II rule in 2009-2014. In the NDA Government’s three years in office, it seems it has achieved what UPA-II did in one year.

While textiles and IT & BPO sectors have fared better in the last three years, job creation in six other sectors – leather, automobile, gems and jewellery, transport, mining, and handloom and powerloom — was higher in the UPA-II years. Moreover, after the initial pick up in 2015, jobs in textiles are disappearing fast.

During the 2013 election rally in Agra, Modi had promised one crore jobs if elected to power. The BJP manifesto, while taking pot-shot at the 10 years of jobless growth (there was no increase in employment during the National Sample Survey Office period 1999-2000 and 2009-10) of the UPA regime, promised to plug the job deficit through development of labour-intensive manufacturing and promoting entrepreneurship.

Global economic meltdown, however, played spoilsport. Monthly exports have been down in 22 of the 33 months on year-on-year basis. Employment-intensive sectors of footwear and apparels have lost share in the international market over the last three years.

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The Hindu Business Line, 10 April, 2017, http://www.thehindubusinessline.com/specials/india-file/jobs-unemployment-narendra-modi/article9627739.ece?homepage=true


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