Soumitra Roy
Ranchi, Aug 10: Reports from CMIE (Centre for Monitoring Indian Economy) reveals that there has been a drastic change in the employment-population during this pandemic era. According to reports, there were 42.9 per cent of the employed population in (January 2020) which was now reduced to 40.2 per cent in (July 2021).
There has been 2.7 percent of reduction which amounts to approximately 1.3 crores in numbers. As compared to January 2018 the decrease in percentage is 3.2 which approximately amounts to 1.5 crores. The unemployment rate in January 2018 was about 5 percent which increased to 7.2 percent post-pandemic in January 2020. The percentage has risen to 11 during summer which is now at 7 percent in July. This trend simply shows that Unemployed has lost hope and sitting at home purposeless as they don’t have enough job opportunity. This situation is a mix of voluntary and involuntary environments that must be addressed instantly and judiciously.
Economist John Jai Thomas estimated that labour forces have a loss of around 4.12 lakh crores during the first lockdown in the previous year which amounted to 2.2 percent of GDP. Research from financial institutions suggested that approximately 13 lakh crores were lost during one year of pandemic, which simply means that the Indian employed population also suffered it.
Still, there has been a hike in the prices of diesel, petrol, oil, grains etc.RBI has stated that there has been a decline in institutional investment and a rise in credit in the market because these jobless populations acted unwisely economically for their survival.
The Modi Government has announced free ration to ration cardholders only which is limited. Almost 10 per cent of the jobless population are in the situation of hunger. There has been a decline of 32 lakhs in the salaried class of person also. These jobs are better paid than compared to other jobs. The manufacturing sector has also seen a decline of approximately 8 lakhs of employed forces. Better pay and job security are extinguishing. Casual labours, labourers engaged in farms, small businesses, retailers, vendors etc are resorting to temporary income-generating opportunities. The above-mentioned issues are alarming for NDA. How will they win the upcoming elections? The answer is simple through Hindu Muslim sentiments which are in our DNA for decades! We must atleast think about the above situation once.
