50 lakh people lost job opportunities after demonetisation, says study
5 years, 8 months ago

50 lakh people lost job opportunities after demonetisation, says study

The Hindu  

Since the November 8, 2016 demonetisation, at least five million people lost opportunities to work across the country, while the overall unemployment rate doubled between 2011 and 2018 to 6%, says a 'State of Working India' report published by the Centre for Sustainable Employment of the Azim Premji University that was released on Tuesday. On the demand side, there has been a collapse of public sector employment, weak link between growth in private industry and employment, and factors such as demonetisation and GST,” Amit Basole, lead author of the report, said at its release. 'Youth most hit' The report shows that the worst-hit in terms of lost employment opportunities were those in rural areas with pre-university or graduate certification, and those between the ages of 20 and 24 years. Urban guarantee scheme The report suggests tackling unemployment through a national urban employment guarantee scheme, modelled on the existing Mahatma Gandhi Rural Employment Guarantee scheme.

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