SME Times is powered by   
Search News
Just in:   • Sensex in red amid heavy fund outflow  • Economic remedies for water crisis  • Demographic dividend: Skill gap a big barrier  • Paytm partners Clix Finance to offer instant digital loans  • Lok Sabha passes Bill to amend Motor Vehicles Act 
Last updated: 18 Feb, 2019  

Population generic THMB No real job data available: BJP MP on growth-loss barb

Population generic
   Top Stories
» Several schemes to push MSME sector: Minister
» Govt clarification on exhibition related export goods
» MSMEs contribute significantly to economy: Gadkari
» 'More than 40 skill development schemes being implemented'
» Encourage industry to create wealth and jobs: Goyal
SME Times News Bureau | 18 Feb, 2019
Reacting to former Prime Minister Manmohan Singh's "job-loss growth" barb at the government, BJP MP Rajeev Chandrasekhar on Monday said there was no real job data available and the NSSO survey did not consider the measures taken to revitalise the MSME and informal sector.

Taking a dig at Singh, he also said that the survey will be used by some people since it is an election season.

"Let us be clear, there is no real job data in government historically because of the dominance of the informal and unorganised sectors in overall jobs," Chandrasekhar said in a statement.

"We must agree that that NSSO survey did not capture all the important measures that the budget 2018 did to revitalise the MSMEs (Micro, Small and Medium Enterprises) and the informal sector."

Noting that Singh was perhaps referring to the leaked draft survey conducted by the National Sample Survey Office (NSSO), which said the country's unemployment rate stood at a 45-year high of 6.1 per cent in 2017-18, he said, "It must be understood that the NSSO data is a survey. A survey conducted at one point of time and is a snapshot of that period.

"That NSSO survey captured a period of churn, immediately after the demonetisation and the GST and even the government has admitted that post-demonetisation and post-GST there were a significant number of transitional issues with the informal sector," he said.

The Rajya Sabha member said that the public spending on infrastructure such as railways, ports, roads construction was done to the tune of Rs 10 lakh crore in the past five years of the Modi government.

"All of this construction, creating downstream jobs and the formal sector, as confirmed by real EPFO data (not surveys), has expanded considerably," he said.

"So on the one hand, we have the real incontrovertible data through the EPFO that confirms job expansion in the formal sector and growth in formalisation of parts of the informal sector while on the other - with no real data on the informal sector - we are relying on the NSSO survey, which was done during transitioning of the GST and demonetisation."

Addressing a convocation at the Delhi School of Management, Singh on Sunday blamed the "slipshod" implementation of the Goods and Services Tax (GST) for damaging the vibrant small and unorganised sector.

Pointing to domestic challenges like agrarian crisis, declining employment opportunities and prevalence of divisive forces, the former Prime Minister had painted a grim picture of the Indian economy and said the jobless growth was fast turning into the "job loss growth".

Chandrasekhar said that the economy was in a far stronger and better place today than it was in 2014 when Singh demitted office.

"The damaged economy he left behind has been rebuilt slowly and surely and we are on a path of sustainably high growth. It's election season so expectedly some people will use survey data in a context that suits them, which is the case here with Dr Manmohan Singh," he said.
 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 23 Jul, 2019
  Daily Poll
Is the Union Budget 2019 MSME-friendly?
 Yes
 No
 Can't say
  Commented Stories
» Textile opportunities in Finland: An export snapshot (1)
» Several schemes to push MSME sector: Minister(1)
» India's balancing act(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter