GROWING UNEMPLOYMENT UNDER UPA

GROWING UNEMPLOYMENT UNDER UPA

 

 The latest NSSO data on employment has once again exposed the Congress-led UPA’s failure to provide jobs to all willing youths.  The unemployment has risen by 10.2% in the last two years itself.  More than 10.8 million youths are without any job as on January 2012. The overall unemployment is much more than these figures as this survey do not take cognizance of under-employment. The employment exchange registers are witnessing continuous rise in number of job seekers.  The NSSO data also points to the deterioration of quality of jobs. Most of the jobs generated during the UPA’s tenure have been in less desirable segment of casual labour as this class does not really get the Job-Wage-Social Security.

 

During the BJP-led NDA regime the job creation was at its peak, with 60.1mn jobs generated in its six years in office, whereas the UPA has failed the youth of the country by creating a meager 14.6 million jobs in seven years. NDA handed over a very healthy employment rate of 42 % to the Congress-led UPA Government in 2004, which instead of building upon it has brought it down to 38.6%, a colossal fall in employment generation. Earlier, experts used to say that UPA is creating a jobless growth. But as of today it is neither growth nor jobs.

 

While the growth rate, value of Rupee, exports, jobs and investor confidence is falling, there has been unprecedented rise in inflation, food prices, corruption, CAD and fiscal deficit.  This is the glaring failure of the Economist Prime Minister to managing the Indian economy.

 

The economic mismanagement of the UPA Government is deeply hurting the common man and the country alike.  The BJP challenges the Congress and the Prime Minister Manmohan Singh to have a debate on the state of Indian economy on any forum at the earliest.

 

The UPA Government cannot get away from their economic failures by taking an alibi in global economic slowdown.  The BJP would like to remind the Congress that the NDA performed well despite facing huge global and domestic crises like Asian currency crisis, nuclear sanctions, 9/11 terror strike, emerging market crisis, severe drought and Kargil war. Despite these crises, the NDA regime posted a huge growth rate year after year due to vision, leadership and political will, which is today completely lacking in the Congress led UPA.

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