New Delhi, Congress on Sunday alleged that the Modi government had accentuated India's "unemployment crisis" with the decimation of job-creating MSMEs through "Tughlakian demonetisation, a rushed GST and increased imports from China ".
In a statement, Congress general secretary in charge of communications Jairam Ramesh cited a new report by Citigroup, a global bank, to point out "alarming figures", which he said confirmed what Congress had said during the recent campaign. electoral.
"The Indian National Congress has been sounding the alarm on India's unemployment crisis for at least the last five years. The crisis has been accentuated by the decimation of job-creating MSMEs through 'Tuglakian demonetisation, a Rushed GST and increasing imports from China,” Ramesh said.
"With his economic policies that favor only large conglomerates, the non-biological prime minister has created India's highest unemployment rate in 45 years, with an unemployment rate for young graduates of 42 percent," he said.
Ramesh shared the highlights of the report which states that India needs to create 1.2 million jobs per year for the next 10 years to employ our youth.
"Even 7 percent GDP growth will not create enough jobs for our youth; under the non-biological prime minister's government, we have averaged GDP growth of just 5.8 percent. Modi's failed economy is the cause fundamental part of the unemployment crisis," Ramesh said. .
"There are 10 lakh vacant posts in the central government, which is not just a travesty for our educated youth but a constraint on the functioning of our government," he said.
Only 21 per cent of India's workforce has a salaried job, down from 24 per cent before Covid, Ramesh said, citing a report.
"The post-Covid recovery has been K-shaped: the billionaire class has been the only beneficiary, even as the path to the salaried middle class is disappearing," Ramesh said.
Real wages in rural areas are declining by 1 to 1.5 percent a year, he said, alleging that "Modi is impoverishing rural Indians."
The Citigroup report also finds that many "overhyped Modi schemes" have not produced any benefits on the ground, and offers suggestions for reform, Ramesh said.
Citing the report, he claimed that Skill India has been a complete failure as only 4.4 per cent of Indian youth have any formal training.
"A new skilling initiative is desperately needed - the right to learning promised in Nyay Patra by the Indian National Congress is the need of the hour," Ramesh said.
"The MUDRA and SVANIDHI jumlas have failed to provide credit to small businesses and 'large-scale renewal' is required," he said.
Indians working in low-wage service jobs are suffering and a "living wage" law is a necessity, he said.
Ramesh said Congress's guarantee of a national minimum wage of Rs 400 a day would be a good start.
"India should create more jobs in the construction sector. The government should start a large-scale social housing programme," he added in his statement.
"The non-biological prime minister and his vocal economists have constantly attacked the idea of rising unemployment. The reality of what we have seen since 2014 is perhaps even sharper unemployment growth," Ramesh said in the statement.
In a statement, Congress general secretary in charge of communications Jairam Ramesh cited a new report by Citigroup, a global bank, to point out "alarming figures", which he said confirmed what Congress had said during the recent campaign. electoral.
"The Indian National Congress has been sounding the alarm on India's unemployment crisis for at least the last five years. The crisis has been accentuated by the decimation of job-creating MSMEs through 'Tuglakian demonetisation, a Rushed GST and increasing imports from China,” Ramesh said.
"With his economic policies that favor only large conglomerates, the non-biological prime minister has created India's highest unemployment rate in 45 years, with an unemployment rate for young graduates of 42 percent," he said.
Ramesh shared the highlights of the report which states that India needs to create 1.2 million jobs per year for the next 10 years to employ our youth.
"Even 7 percent GDP growth will not create enough jobs for our youth; under the non-biological prime minister's government, we have averaged GDP growth of just 5.8 percent. Modi's failed economy is the cause fundamental part of the unemployment crisis," Ramesh said. .
"There are 10 lakh vacant posts in the central government, which is not just a travesty for our educated youth but a constraint on the functioning of our government," he said.
Only 21 per cent of India's workforce has a salaried job, down from 24 per cent before Covid, Ramesh said, citing a report.
"The post-Covid recovery has been K-shaped: the billionaire class has been the only beneficiary, even as the path to the salaried middle class is disappearing," Ramesh said.
Real wages in rural areas are declining by 1 to 1.5 percent a year, he said, alleging that "Modi is impoverishing rural Indians."
The Citigroup report also finds that many "overhyped Modi schemes" have not produced any benefits on the ground, and offers suggestions for reform, Ramesh said.
Citing the report, he claimed that Skill India has been a complete failure as only 4.4 per cent of Indian youth have any formal training.
"A new skilling initiative is desperately needed - the right to learning promised in Nyay Patra by the Indian National Congress is the need of the hour," Ramesh said.
"The MUDRA and SVANIDHI jumlas have failed to provide credit to small businesses and 'large-scale renewal' is required," he said.
Indians working in low-wage service jobs are suffering and a "living wage" law is a necessity, he said.
Ramesh said Congress's guarantee of a national minimum wage of Rs 400 a day would be a good start.
"India should create more jobs in the construction sector. The government should start a large-scale social housing programme," he added in his statement.
"The non-biological prime minister and his vocal economists have constantly attacked the idea of rising unemployment. The reality of what we have seen since 2014 is perhaps even sharper unemployment growth," Ramesh said in the statement.
