Note Ban, GST Impact on Jobs More Than NSSO Headline Data: Report
The real impact of demonetisation and GST on the unemployment rate in the country could be far worse than what was portrayed by the headline figures given in the National Sample Survey Office’s (NSSO's) report for 2017-18.
A Business Standard report claimed that if the current weekly status (CWS) approach of the NSSO’s periodic labour force survey (LFPS) is taken into account, the unemployment rate would be significantly higher, at 8.9 percent in 2017-18, as opposed to 6.1 percent when measured using the usual status approach.
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Ex-NSC Head Rubbishes Govt Claim, Says Unemployment Data ‘Final’
Ex-NSC Acting Chairman PC Mohanan has rubbished the claims of the government and has said that the unemployment data numbers are final. Speaking to The Indian Express, Mohanan said that the report is final and doesn’t need any further approval.
Unemployment Data Reiterates That Note Ban Left Us In A Shambles
The numbers coming out of the NSSO report, held back by the government and published by a newspaper, indicate several failures on the employment front. While unemployment rate is above 6 percent, the labour force participation rate too, has plunged to a historic low of 37 percent.
However, beyond these obvious numbers lie the true extent of the rot. It is now evident that demonetisation disrupted the job market massively.
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'It's Not Official Data, Have to Wait Until Govt Releases Official Data': Mohandas Pai
Reacting to the controversy over unemployment data, former Infosys CFO Mohandas Pai said:
“It’s not official data (on jobs), we don’t know if it’s correct, we have to wait until government releases official data. Today, we have alternate sources of data based on databases and they say a large number of jobs were created in the last four and a half years.”Mohandas Pai, as quoted by ANI
Pai further attacked the Opposition, saying the UPA government fell into the trap of jobless growth.
“UPA and people from the Opposition who criticise this data should be very careful because during their era did they create jobs? They didn’t know how to count. They fell into the trap of jobless growth.”Mohandas Pai, as quoted by ANI
'Can't Grow at 7.2% and Say There Are No Jobs Being Created': Amitabh Kant
NITI Aayog CEO Amitabh Kant reiterated Vice Chairperson Rajiv Kumar's view that it is incorrect to compare the 2011-12 data.
“You cannot be growing at 7.2 percent and say there are no jobs being created... To my mind, there’s a lack of good quality jobs, that’s the problem.”NITI Aayog CEO Amitabh Kant
The NITI Aayog CEO further said they were creating enough jobs for new entrants. "Our own internal analysis shows we are creating 7.8 million jobs. A whole lot of people are exiting low productivity jobs in agriculture. Aspirational people want better paying jobs," he was further quoted as saying by NDTV.
He also pointed towards the role of cab companies including Ola and Uber in job creation.
