2 min read.Updated: 14 Jan 2019, 03:06 PM ISTLivemint
As poll season approaches, a major concern for the Modi-led BJP government is that the promise of jobs has persistently remained a mirage
On the eve of the 2014 parliamentary elections, while the animating pulse of the nation was clearly a sentiment of outrage over big-ticket corruption, another significant undercurrent propelled what came to be called the “Modi wave": the issue of jobs. Prime Minister Narendra Modi rode to power promising the creation of millions of jobs a year. But as the country awaits the first national test of that promise, things are looking rather bleak for the Bharatiya Janata Party-led government. Citing official data from a yet-to-be publicly available Labour Bureau survey, the Business Standard in a report published on Friday claimed that the aftermath of demonetization sent the unemployment rate soaring to a four-year high. The immediate negative effects of the demonetization exercise have been widely acknowledged by now, even by some within the government. Private agencies like the Centre for Monitoring Indian Economy, which undertakes a large-scale monthly survey of 172,000 households, projected that roughly 3.5 million jobs were lost in the early months of 2017.
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