India’s government has presented its final budget before this year’s national elections in the shadow of revelations that it has presided over India’s worst unemployment rate in 45 years – and tried to bury the statistics. The weak jobs data, a financial crisis in the farming industry and declining confidence in the economy could threaten the re-election prospects of Narendra Modi, the prime minister, who campaigned five years ago on promises of putting India to work, with the slogan “Good days are coming”.
For years economists have said most Indians are under-employed and paid poorly for the work they do. Now a government survey obtained by India’s Business Standard newspaper shows that up to 6.1% are unable to find work at all.
For years economists have said most Indians are under-employed and paid poorly for the work they do. Now a government survey obtained by India’s Business Standard newspaper shows that up to 6.1% are unable to find work at all.
