Tracking Indian Economy till general elections 2019

ezsasa

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India's unemployment rate hit four-decade high of 6.1% in 2017-18, says NSSO survey
BusinessToday.In | New Delhi, Thursday, January 31, 2019 | 12:05 IST

The latest data on unemployment in India, which is yet to come in public domain, is the first comprehensive survey on employment conducted by a government agency after Prime Minister Narendra Modi announced demonetisation.
  • For instance, the rate of joblessness among rural males in the age group of 15-29 years jumped more than three folds to 17.4 per cent in 2017-18 versus 5 per cent in 2011-12. In case of female youth in rural areas, unemployment rate stood at 13.6 per cent in 2017-18 as compared to 4.8 per cent in 2011-12.
    "The youth is moving away from the agriculture sector as it is becoming less remunerative and moving to urban areas. On the sectoral front, construction sector, which was one of the biggest employers in urban areas, witnessed a major turmoil in the sector," the news agency quoted Madan Sabnavis, chief economist at Care Ratings as saying.


    In a similar trend, the labour force participating rate (LFPR) --the portion of the population working or seeking job -declined from 36.9 per cent in 2017-18 as against 39.5 per cent in 2011-12.
    The NSSO report on job data has been at the centre of much controversy after two non-governmental members of the National Statistical Commission (NSC), PC Mohanan and JV Meenakshi, stepped down on Monday amid 'disagreements' with the government over the functioning of the commission. "We have resigned from the NSC. Over the months, we have been feeling that we were not been taken seriously and being sidelined by the government. Recent decisions of the NSC were not being implemented," PC Mohanan told the leading daily.
I did not see such a report on mospi website......

Don’t think report is released yet...
 

Haldiram

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the rate of joblessness among rural males in the age group of 15-29 years jumped more than three folds to 17.4 per cent in 2017-18 versus 5 per cent in 2011-12. In case of female youth in rural areas, unemployment rate stood at 13.6 per cent in 2017-18 as compared to 4.8 per cent in 2011-12.
During UPA, the rural youth were employed in MGNREGA digging holes and filling them up so it didn't show up in the "unemployed" statistics.

There sure was some economic slowdown due to a global economic slowdown, with trade wars and everything. It's a normal business cycle playing out. It has its own waxing and waning periods.
 

Why so serious?

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During UPA, the rural youth were employed in MGNREGA digging holes and filling them up so it didn't show up in the "unemployed" statistics.

There sure was some economic slowdown due to a global economic slowdown, with trade wars and everything. It's a normal business cycle playing out. It has its own waxing and waning periods.
You know it's going to take a lot more than this to get rid of the damage this report and the statistician's quitting is going to do.
 

Akshay_Fenix

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Looks like Modi is fucked now Rahul and his media ecosystem will make this issue the poll issue Gaya Vikas ganga yamuna mein

Unemployment rate at 42 year high :tsk:
Stop lying!!!!!! Unemployment is at 252 years high man. We have to elect Raga so that he can call the East India Company back and give us jobs to Indians.
 

Haldiram

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You know it's going to take a lot more than this to get rid of the damage this report and the statistician's quitting is going to do.
There really was a decline in jobs as a result of the global slowdown. Neither was the BJP responsible for it, nor can the Congress fix it. It's going to last for another 3 years, no matter which party is in power. The Congress is capitalizing on the sentiment.

In the end people will vote based on how they feel "overall"; Not on specific statistics. Jobs have gone down but inflation and taxes have also gone down from 14% to 2.7%. Cost of medical surgeries has also gone down due to government's push for generics (this even got our Pharma companies sanctioned in the US, for "too low" rates). Crores of people have received Mudra loans to start businesses. Crores of people received gas connection along with gas subsidy. The overall economic situation (the way it affects a lay man) is net positive, compared to 2014.

The Congress ruled for 70 years and they have themselves not cultivated the kind of electorate which reads Economic Times and says "oops! fiscal deficit grew by 0.07%, time to change the government". In the end, broader sentiment drives voting patterns. The person who can read and understand unemployment statistics is an educated person who also understand that it's not the government's doing. If an engineering student sees that Infosys has hired less students in campus placement this year, he's knows that it's because of the global slump, not because of Modi. He also sees that his pensioner father's pension has gone up and medical expenses have gone down and that his house now has electricity and gas supply.
 
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vampyrbladez

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During UPA, the rural youth were employed in MGNREGA digging holes and filling them up so it didn't show up in the "unemployed" statistics.

There sure was some economic slowdown due to a global economic slowdown, with trade wars and everything. It's a normal business cycle playing out. It has its own waxing and waning periods.
Pappu needs something to grasp at and pliant media are chucking him stuff hoping something sticks. First they tried Rafale and after yesterday's blowout he won't try for a long time. Next came farmer distress and he tried loan waiver, partially successful on state level but flop nationally. Then UBI which Modi is implementing something to that type. Now unemployment data 'leaked' by these NGO types on the panel.
 

Haldiram

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Pappu needs something to grasp at and pliant media are chucking him stuff hoping something sticks. First they tried Rafale and after yesterday's blowout he won't try for a long time. Next came farmer distress and he tried loan waiver, partially successful on state level but flop nationally. Then UBI which Modi is implementing something to that type. Now unemployment data 'leaked' by these NGO types on the panel.
That's okay. Even the party in power wants that the battle must at least "appear" to have been bitterly fought. It acts as a temporary pressure release valve. In the end, people see the overall scenario before voting.

2008 saw the worst economic slump. Companies stopped hiring. That didn't stop people from electing UPA in 2009. 26/11 happened in 2008, that didn't stop people from voting the UPA either. In 2013, UPA promised to give more doles than ever, still people voted them out in 2014. During DeMo, Congress planted news of "distress" hoping for riots, but people stood quietly in ATM queues. They planted news of farmer distress, but the government has increased the MSP so the farmer's movement lost steam. People are not simpletons like that. They see the overall scenario and then vote.
 
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captscooby81

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Lets be honest with 50 % of the country population below 30 years jobs are going to be a problem for any govt which is going to come in future its not only a modi issue. Even china with 11 trillion economy have you see chinese job fair pictures the crowds are crazy and compare that with 2.8 trillion economy and equal population . Lets also not forget what was our population 42 years ago with education . With more number of people getting education we are going to have a new type of issue where people want selected profession for them to work .

I had conducted an interview for entry level post in my project few months ago . Interviewed 6 people all with BE with 70% score but not even one able to open their mouth and explain thinks what they know in engineering but they all want nothing less than 20k as salary i offered one 15k he said he will rather sit and home than take 15k salary and start his career ..

Jobs are going to be an issue every where . At least now try to do something on population

Stop lying!!!!!! Unemployment is at 252 years high man. We have to elect Raga so that he can call the East India Company back and give us jobs to Indians.
 

Haldiram

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Lets be honest with 50 % of the country population below 30 years jobs are going to be a problem for any govt which is going to come in future its not only a modi issue. Even china with 11 trillion economy have you see chinese job fair pictures the crowds are crazy and compare that with 2.8 trillion economy and equal population . Lets also not forget what was our population 42 years ago with education . With more number of people getting education we are going to have a new type of issue where people want selected profession for them to work .

I had conducted an interview for entry level post in my project few months ago . Interviewed 6 people all with BE with 70% score but not even one able to open their mouth and explain thinks what they know in engineering but they all want nothing less than 20k as salary i offered one 15k he said he will rather sit and home than take 15k salary and start his career ..

Jobs are going to be an issue every where . At least now try to do something on population
That's what the Skill India thingy addresses. It's the equivalent of what is referred in the US as "trades". They are teaching how to repair vehicles and electronics and vocational skills so that the bulk of the population which falls in the "literate but not highly skilled" category can be given a middle level skill and then they can either open a repair shop or ideally be sent to other BRICS nations and emerging markets to repair BMWs and Redmi phones. It's the "uncool" professions which actually have the potential to create mass employment. Plumbing and carpentry used to be a low tech job. Now they learn how to operate power tools, lathe machines and other standard equipment.

IT and engineering cannot be the bulk of our jobs. Finance and MBA is even worse (just one equity manager typically manages a 10000 crore fund and serves thousands of customers). The more high tech a job gets, the lesser number of people it employs. A single tech park with Goldman Sachs, Morgan Stanley, Deloitte in the same building collectively churns out billions of $ a year in revenue, and employs just a few hundred people. Comparatively just 1 billion $ spent by tourists can feed thousands of families of porters, guides, mess food services.
 

vampyrbladez

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i offered one 15k he said he will rather sit and home than take 15k salary and start his career ..
Ouch man! Thats fucking brutal! At least start with 18 - 19k and then move onto a bond for 2 years if kid asks for 20k. Give him a 5k raise in 2nd year of bond and he will probably renew. Much cheaper than training new blood and losing trained chaps to some other companies.

By end of 3 - 4 years he will leave so you retain for maximum time and give next to nothing in increment compared to hire/train costs.
 

captscooby81

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So the first lot of that mythical 2.8 lakh crores which the govt was expecting from RBI has been approved by RBI . So at last the rumour turned out to be true ..Or is this money given to govt to prepare for retaliation response to pakistan ?

RBI.jpg
 

Willy3

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they all want nothing less than 20k as salary i offered one 15k he said he will rather sit and home than take 15k salary and start his career ..
:lol: may be banda tried to be smart and cool infront of interviewer , or may be his father still have great income source.

After getting confirmation when officers told me that they gonna send me to tamilnadu for first posting and before that I should have visit my parents for a week as their is no guarantee for future leave for nearly 6 months, I immediately respond that no sir I am ok with it, you can send me even today, right now ...lol , I was desperate ,i was thinking that even that was a test to check my interest in the job....:lol:
 

canterlot

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There really was a decline in jobs as a result of the global slowdown. Neither was the BJP responsible for it, nor can the Congress fix it. It's going to last for another 3 years, no matter which party is in power. The Congress is capitalizing on the sentiment.

In the end people will vote based on how they feel "overall"; Not on specific statistics. Jobs have gone down but inflation and taxes have also gone down from 14% to 2.7%. Cost of medical surgeries has also gone down due to government's push for generics (this even got our Pharma companies sanctioned in the US, for "too low" rates). Crores of people have received Mudra loans to start businesses. Crores of people received gas connection along with gas subsidy. The overall economic situation (the way it affects a lay man) is net positive, compared to 2014.

The Congress ruled for 70 years and they have themselves not cultivated the kind of electorate which reads Economic Times and says "oops! fiscal deficit grew by 0.07%, time to change the government". In the end, broader sentiment drives voting patterns. The person who can read and understand unemployment statistics is an educated person who also understand that it's not the government's doing. If an engineering student sees that Infosys has hired less students in campus placement this year, he's knows that it's because of the global slump, not because of Modi. He also sees that his pensioner father's pension has gone up and medical expenses have gone down and that his house now has electricity and gas supply.
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Totaly agree
 

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