Digital Desk, New Delhi. The second wave of the Coronavirus epidemic has pushed the city far back. India’s economy has broken the record of the last four decades. According to the data released by the government on Monday, India’s economy grew at a rate of 1.6 percent during the fourth quarter (January-March) of 2020-21. Whereas GDP has seen a decline of 7.3. India’s growth rate in the financial year 2021 was -7.3%. At the same time, according to a report by the Center for Indian Economy, in the second wave
Mahesh Vyas, CEO of the private think tank Center for Monitoring Indian Economy (CMIE), released the unemployment data, stating that due to the second wave of Corona, unemployment has increased in the country. The unemployment rate in April was 8 percent. Which was 12 percent in May. According to the data released by Mahesh Vyas, unemployment in the second wave of Corona has been 10 million. Out of which urban unemployment rate (May) is 14.73%, rural unemployment rate (May) is 10.63% and nationwide unemployment rate (May) is 11.90 percent.
Mahesh Vyas told that the economy has started opening up. This will solve some part of the unemployment problem, but the problem will not be completely eliminated. Those who have lost their jobs are finding it difficult to get employment again. Because the informal sector is recovering to some extent, but whether it is a formal sector or a good quality job, there is still time to return to that sector. Significantly, due to the nationwide lockdown last year, the unemployment rate reached a record 23.5% in May. According to experts, the peak time of the second wave has passed. States will now gradually lift restrictions on economic activity.