TIWN July 24, 2024
NEW DELHI, July 24 (TIWN): Former Finance Minister Chidambaram slammed the Budget 2024, and why the government is failing to fill up the vacant posts under various government sectors and why so much of unemployed youths’ crowd behind each post ? Addressing the Rajya Sabha, Chidambaram said, “Unemployment is the biggest challenge. The Centre for Monitoring Indian Economy has estimated the all-India unemployment rate in June 2024 as 9.2%. Earlier, there was a Production-Linked Incentive (PLI) scheme. When you introduce an Employment-Linked Incentive (EIL), it must be for some reason. And I suspect the reason was that the PLI scheme didn't create the kinds of jobs that you wanted to create. So, will the honorable Finance Minister tell this house what the outcome of the PLI scheme has been?”
“Once we know the outcome of the PLI, we can look ahead to what we expect from the ELI.
ELI is an interesting idea, but it doesn't inspire confidence that you would be able to place 290 lakh people under the ELI that you have described. It shouldn't be another hollow promise like the 2 crore jobs annually,” he said.
Here are some points that he placed before the Parliament. Look at the magnitude of unemployment:
- 60,244 vacancies in the UP police department attracted 48 lakh applicants
- 25,000 people for 2,260 vacancies in Air India
- In Gujarat, 1,000 hopefuls competed for just 5 positions in a private company
- In Madhya Pradesh, 11,000 applicants vied for 15 vacancies
- 24,74,030 applicants for 7,500 vacancies in the UP SSC exam
- And yet, the RBI claims there is no job crisis in India.
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