Indian economy expanding with increased employment
Prime Minister Narendra Modi addressed the newly recruited employees in various government departments at a virtual ‘Rozgar Mela‘ where over 70,000 appointment letters were handed out. He highlighted the growth in the Indian economy, citing increased manufacturing activity and employment opportunities despite geopolitical tensions.
Modi credited government schemes like Startup India, Stand up India, and Mudra Yojana for creating employment opportunities in both the private and public sectors. He emphasized the stability and decisiveness of the Indian government, which he claimed has garnered international recognition.
However, it should be noted that India’s unemployment rate rose to 8.11% in April 2023, an increase from 7.8% in March 2023, according to the Centre for Monitoring Indian Economy (CMIE). The unemployment rate has been on an upward trend throughout the year, with April marking the fourth consecutive month of increase.
The unemployment rate in April was 0.97 percentage points higher compared to January 2023. CMIE analysis suggests that the April rate of 8.11% falls on the higher end of the spectrum, as the unemployment rate has ranged between 6.4% and 8.3% over the past 12 months, averaging at 7.6%.
The ‘Rozgar Mela’ took place at 43 locations across the country, and the newly recruited employees joined various government departments including financial services, posts, defense, school education, higher education, revenue, and health, among others.