Employment Declines in India for the First Time Since Independence
According to a new research paper in the Economic and Political Weekly, the absolute number of employed people in India has declined in the last three years. This has happened for the first time in independent India. India experienced jobless growth even when economic growth was higher. Now the economy is slowing down and the jobs scenario is looking bleaker than ever. Economic growth in India, which was already showing signs of slowing down prior to demonetisation, has worsened owing to the disastrous policy of demonetisation and the blow delivered by GST to the informal sector.
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