According to a statement by the Politburo, the Left party said two members of the National Statistical Commission, a statutory body which releases the National Sample Survey Organisation (NSSO) reports, resigned because of the unemployment data.
In recent times both BJP (around election time in UP and Maharashtra) and Congress (in Punjab, and now Rajasthan, MP and Chhattisgarh) have rushed to the fire of farmer wrath with wild schemes of bank loan waivers. This is, of course, a bad idea not just because it plays havoc with the banking culture (just as that of loan waivers for corporate defaulters does).
“We train all our focus on preparing for jobs — this is a discourse we need to change. In convocations, we should celebrate people who did not accept big jobs and decided to do something that will generate jobs,” said Manish Sisodia.
The reality is that a loan of Rs 47,268 is not sufficient to create a job. That amount may be enough to buy some tools or furniture or install an air conditioner or a refrigerator. It may be used as additional working capital. By no stretch of imagination will Rs 47,268 create an additional job.
To lend weight to his argument, he referred to employment figures available in the system including EPF, NPS, formal and informal sector. He talked about job growth and employment towards the end of his speech.
The mood of the nation is despondent. In the RBI’s survey (May 2018), 48 per cent of respondents felt that the economic situation had worsened in the last one year. In some sectors, like agriculture, despondency has turned into anger. Among some sections of the people, like Dalits and unemployed youth, despondency has turned into despair.