Where are the jobs Mr Jaitley: Congress asks in open letter

"15 lakh jobs were lost as a direct result of your (NDA government's) decision to demonetise, say CMIE surveys. Your undeclared financial emergency was a surgical attack against the poor," states the congress party in the letter.

By: ANI | New Delhi | Published:August 5, 2017 12:01 am
Arun Jailtey, Congress news, Jobs in India news, latest news, national news, latest news, jobs in India news, latest news, national news New Delhi: Union Finance Minister Arun Jaitley. (PTI Photo)

In a scathing letter to Arun Jaitley, the Congress on Friday attacked the Union Finance Minister over massive loss of jobs following demonetisation, branding the move as a “surgical attack against the poor”.

Here is the full text of the open letter:

“Dear Mr. Jaitle”15 lakh jobs were lost as a direct result of your decision to demonetise, say CMIE surveys. Your undeclared financial emergency was a surgical attack against the poor,” states the congress party in the letter. y,

How does it feel to preside over a government-created economic crisis?

1.6 crore Indians became jobless in the first year and a half of you becoming Finance Minister, according to Labour Bureau Data.

15 lakh jobs were lost as a direct result of your decision to demonetise, say CMIE surveys. Your undeclared financial emergency was a surgical attack against the poor.

It is little wonder that your government has stopped conducting surveys on employment. Why you have no numbers on consumption. Why NITI Aayog doesn’t see tracking poverty as its job. Your ostrich doctrine of economics postulates that if you don’t measure a problem, it doesn’t exist, right? Wrong.

Perhaps our jobs were lost when manufacturing hit a 9 year low. When exports declined for more than 20 months. When increasing interest rates failed to increase investment!

Perhaps our jobs were lost because there is no growth in construction, which accounts for two-thirds of the non-agricultural economy.

Perhaps our jobs in agriculture were lost due to an act of god, two years of back-to-back drought. Followed by your out-of-touch government refusing to waive loans because it had already forgiven its friends NPAs, rendering farmers ineligible to access financial assistance. Or when you decided to drastically decrease public investment in agriculture.

Perhaps our jobs were lost because demonetisation and GST decimated the informal sector, forcing many young men to return to their villages and wrest work back from women, decreasing women’s participation in the labour force.

And now you believe that implementing a country-wide minimum wage will fix the problem. If only you understood it will lead to more jobs being lost due to increasing the cost of doing business. If only you knew it comes at the cost of increasing regional inequality because job opportunities will move from poor states with low wages to more affluent states with the right skills and thriving markets.

If only you didn’t quit your day job.

With concern,

India’s 54.4 crore unemployed.”

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  1. V
    Aug 6, 2017 at 5:37 pm
    PM MOdi and this Arun jaitely made India and Indian people due to demonetization and GST. This is rubbish minister joker in Central Govt of India dont know politics carrying so many responsibilities of ministries. Look good joke of modi even he unable to win from his own cons uency give so much responsibilities. What he and modi can provide jobs to our youth this great ever Fakku sarkar and fakku misiteres with PM... Jai Hind
    1. S
      Aug 5, 2017 at 9:44 pm
      BJP rule is disaster for India due to the following reasons:- a) Corruption not yet eliminated. b) Black money not eliminated. C) Black money stashed in foreign countries not yet brought back as promised during election by Modi. D) Employment opportunities are reducing.E) prices are increasing due to GST.F ) Totally people's happiness index has gone down .
      1. V
        Aug 6, 2017 at 5:39 pm
        True u r absolutely right we all agree now we all youth of india want to change 2019 atleast this fakku modi we dont want to see in parliment... Jai Hind
      2. P
        Prasenjit Singh
        Aug 5, 2017 at 4:20 pm
        I am not a congress supporter or even BJP supporter but Modi Ji please ask your arrogant puppet ministers and bhakts to shut up. Your note bandi has made millions in unorganised sector job less and you think the country is only about organised corporate sector. That's why you are a suit boot ki sarrkar.
        1. V
          Aug 6, 2017 at 5:40 pm
          Shame to this BJP Govt.. down and death to this sarkar... Congress Zindbad .. Jai Hind
        2. R
          Aug 5, 2017 at 11:35 am
          many people lost jobs from Gulf countries and this is due to ruling govt. at ude
          1. I
            Aug 5, 2017 at 11:13 am
            Poor Mr Jaitley. HMV decided on a 'surgical strike' on the finances of the opposition and both Mr Jaitley and the RBI had to sing in praise of demonitisation as though it was a greatest thing to happen to India since Independence.
            1. H
              Aug 5, 2017 at 9:26 am
              India needs entrepreneurs and not job seekers.
              1. M
                Aug 5, 2017 at 2:49 pm
                Does any bank support genuine new entrepreneurs? They are sitting on heavy NPAs from the industrialists. They waited till money launderers Mallya and Lalit Modi left the country. Has any bank official gone to jail for this?
                1. S
                  Aug 5, 2017 at 11:21 pm
                  What sort of entrepreneurs are you talking of? Do you mean startups? According to a survey done by IBM, 90 percent of startups in India failed in last 5 years. (Google "90 start-ups in India fail within 5 years: IBM"). Most of the "entrepreneurship" which was providing jobs was in the informal sector, for example garages, welding shops, fabricators etc. These were badly affected by he two most touted reforms of the Government, namely GST and Demonetization. The entire burden of job creation is going to shift to the formal sector which is incapable of the monumental task. Further the Black economy, such as in the real estate or textile sector was a big provider of employment. This parallel economy was as big as, if not bigger than the mainstream economy. Strangling it has finished off many jobs. Are you aware that those employed in the Government (particularly Central government) are now much better paid (almost twice as much) than their counterpart in the private sector
                  1. V
                    Aug 6, 2017 at 5:48 pm
                    Excellent very true thanks for your nice views by this atleast our youth will open their eyes to elect good goveranance not suit boot ki sarkar.. Jai Hind
                2. K
                  Aug 5, 2017 at 8:50 am
                  Domentization: 4 crore jobs lost. GST: 8 crore jobs expected to be lost soon.
                  1. S
                    Aug 5, 2017 at 8:48 am
                    No Jobs my friend until BJP in power. They are recruiting many lakhs only to work as Gau Rakshaks, Bajran Dal, VHP, Hindu Sena, Hindu Yuva Vahini, ABVP, RSS, BJP. They get paid Per Mob Lynching as per guess otherwise why they are doing it for free.
                    1. P
                      Aug 5, 2017 at 11:18 am
                      then go and beg on the streets....
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