SRINAGAR: Prof Faheem-ud-Din from Giri Institute of Development Studies (GIDS), Lucknow, delivered a special lecture on “Employment: Retrospect and Prospect” in School of Social Sciences, Central University of Kashmir (CUK) here at Nowgam Campus-III.
Dean School of Social Sciences and Head, Department of Economics, Prof G M Bhat, faculty members, and research scholars attended the lecture.
Prof Faheem-ud-Din said the employment scenario in India is “not good and the economy is faced with the dual problem of shrinking job opportunities and the loss of existing jobs making the situation bad for the government and people.”
He pointed out that the population percentage of people working professionally in India has “declined to 51% from 54%.” “Unemployment rate in India doubled during July 2017-July 2018 while as the jobs declined to 306 million in 2017-18 from 406.7 million in previous year,” he added.
The expert also said that demonetization not only “failed” to wipe significant hordes of unaccounted wealth from the Indian economy, but also led to “loss of jobs.” He said, “due to demonetization construction sector was the worst hit with a decrease of 23,000 workers, followed by IT/BPO sector that recorded a decline of 16,000 workers and in manufacturing sector 12,000 workers lost their jobs in July-September past year over the last quarter.”