The Congress on Sunday painted a gloomy job scenario in the country, alleging that while unemployment was at its peak, even employed people earned less, suffering massive salary cuts.
Congress communications chief Jairam Ramesh said: “India’s Modi-made job famine as a result of ‘Modani-karan’ of the economy is the height of Anyay Kaal of the last 10 years.” The party was talking about the alleged Modi-Adani nexus by referring to ‘Modani-karan’.
Citing a new analysis of India’s unemployment crisis, Ramesh said: “It comes from one of the world’s leading economists, a professor at London School of Economics. Compared to 10 years ago, less people are working, the youth are worst affected, and jobs are paying much less. The percentage of Indians who have jobs is still lower than it was 10 years ago. Youth unemployment rate reached a peak under the Modi government, and today at above 8 per cent, is much higher than the 4 per cent it was 10 years ago.”
He added: “For the first time in over 30 years, Modi has managed to decrease the share of workers getting a salary. It had been rising continuously from 15 per cent to almost 25 per cent under the previous government but has now come all the way back down to 22 per cent. Even for the lucky few with jobs, after taking away the effect of price rise, earnings have not increased at all under the Modi government. Salaried workers’ earnings are 12 per cent lower than 5 years ago, while rural labourers’ earnings are 5 per cent lower.”