When GDP is growing why jobs are shrinking?

Kashmir Times. Dated: 1/19/2019 3:16:01 PM

Dear Editor,
In a latest report of sample survey conducted by "Teamlease Employment outlook" it revealed that India's net employment outlook is likely to decrease by 3 per vent to 92 per cent in the two quarters (October-2018 to march 2019) as compared to 95 percent for the preceding half year (April-2018 to September-2018). The alarmingly high demands supply mismatch in the job market-came to light when Indian railways received staggering 23 million applications for just 90,000 vacancies. A sample survey report of the " Centre for monitoring Indian Economy" (CMIE) showed that number of formally employed Indians may have declined marginally by 0.1 percent in 2017-18 whileas no jobs were added in the year 2018 which contradicts the govt.'s claim in Lok Sabha that 3.11 million jobs were added between sept.2017 & Feb 2018"lndian" GDP from Industry sector was 495.62 billion US Dollars & in service sector it was 1.186 trillion US dollars which is unusal for a developing economy it needs to be reversed if the country's employment growth has to keep pace with economic growth. Overwhelming focus on primarily import bases digitization without creating a local manufacturing infrastructure of hardware and instruments, including memory chips and education level of users- appears to be primarily responsible for India's highly job-starved economic growth. A substantial part of FDI is taking place not in new projects but in domestic corporate takeovers as is the case of Walmart's majority acquisition deal, or, growing " Promoters" equity in Indian companies by the likes of Alibaba and Softbank. The socalled "Make-in-lndia" hype may face the same fate as the former US President Ronald Reagon' s 1980 Presidential compaign."Let's Make America Great again against the growing Japanese & Chinese import lobbies then, as under the Regional Comprehensive Economic Partnership (RCEP) which has now been postponed to the year 2019. 90 percent of goods from Asean countries like Japan, South Korea, Australia, New Zealand and others will enter duty free into India. The world Bank report say reportedly that India needs to creat over eight million jobs annually to keep its employment rate constant as its working population (above 15 years of age) is reportedly increasing by 1.3 million every month." The Govt., being a model employer" is duty bound to keep employment growth apace with economic growth for a healthy development all around in the country.
--Krishan Singh
Talab Tillo, Jammu.

 

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