According to data released by the Centre for Monitoring Indian Economy (CMIE), India’s unemployment rate in October rose to 6.98 percent from 6.67 percent in September.
The spike has been recorded in both urban and rural sectors. The rural areas show a steep rise in the unemployment rate for the month. The unemployment rate rose to 6.90 percent in October from 5.86 percent from the previous month.
Whereas, the urban unemployment rate declined to 7.15 in October from 8.45 in September.
Despite the agricultural sector showing a sign of robustness, the month of October witnessed an increase in unemployment, reported Livemint.
Haryana saw the highest unemployment rate at 27.3 percent, followed by Rajasthan at 24.1 percent, and Jammu & Kashmir at 16.1 percent.
The CMIE data also suggested that the implementation of projects worth Rs 9.9 lakh crore were stalled during the first nine months of 2020 till 30 September, reported Business Today.
The Goods and Services Tax (GST) revenue collection crossed Rs 1 lakh crore in October with a jump of 10.25 percent from October 2019. On Sunday, 31 October, the finance ministry said that the gross GST revenue collected in October 2020 is Rs 1,05,155 crore and the total number of GSTR-3B returns filed for the month of October up to 31 is 80 lakh.
The novel coronavirus has infected nearly 8.2 million people across the country. The economic activity resumed after the government eased lockdown restrictions.
(With inputs from Live Mint, Business Today, CMIE)