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Despite nearly 7% Growth, problem of Unemployment still persists

Despite nearly 7% Growth, problem of Unemployment still persists

New Delhi: India has huge number of working population which in economic terms is called as Demographic dividend, but the unemployment rates in the current context worry that this may lead to demographic disaster.

Since the BJP came into power, the unemployment rates have been slightly increased, the fact which has been grasped by the foreign media too. France media tells that despite 7% growth rate, there are still unemployment problems in India.

Every year millions of youth join the workforce but they do not get enough livelihood opportunities. This is true in case of both the formal and informal sectors of the economy.

According to the news reported in Hindustan Times, PM Modi while campaigning in 2013 in Agra said that “If BJP comes to power, it will provide one crore jobs which the UPA (United Progressive Alliance) government could not do despite announcing it before the last Lok Sabha polls.”

But, three and half years after coming into power, the problem of unemployment still persists, in fact it has increased. Economic survey of 2016-17 notes that “Employment growth has been sluggish.”

There has also been shift in employment from permanent to contractual employment which further increased the problem of job insecurity. It also has adverse effects on the level of wages, social security of employee and stability of employment.