Need to Know: Unemployment- A new identity of undeveloped India!
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Do you know how much jobs have been done by private and government companies in the year 2014-15 and 2015-16? CENTER FOR MONITORING INDIAN ECONOMY Director Mahesh Vyas writes articles about Employment in Business Standard every Tuesday.
In 2014-15, there are eight such companies, each of which has taken the average 10,000 people out of work. There are also private companies and the government also. Vedanta has cut 49,741 people. Future Enterprise reduced the 10,539 people. Fortis Healthcare has reduced 18,000 people. Tech Mahindra has reduced 10,470 employees, SAIL is a public sector company, it has reduced the number of 30413 people. BSNL has taken 12,765 people out of work. INDIAN OIL CORPORATION has reduced 11,924 people. Only three government companies have reduced about 55,000 jobs. Did the Prime Minister give the data in the Lok Sabha?
Did you ask?
Larsen & Trubow L & T reduced 1,11020 jobs in 2015-16. Future Enterprise removed 23,449 people. Cell this year removed 18,603 people or reduced jobs Even after this, the rate of employment growth this year is 0.4 percent.
Just know who is Future Enterprises, whose company has removed or reduced 34,000 people in two years. Search. In 2016-17, the job conditions in the corporate sector are improved. The rate of increase in employment is 2.7 percent. This is a good sign in comparison to the last several years, but 4% is marginal in front of employment growth.
Mahesh Vyas points out that the employment growth in 2003-4, 2004-05 was very bad. But then, by 2011-12, the rate of 4% is increased which is considered very good. It starts declining from 2012-13. This year falls from 4 percent to 0.9 percent. 3.3 percent in 2013-14. But in 2014-15, there is a rapid decline. Fall 2015-16, 2016-17 also keeps falling. The average employment growth in these years has been 0.75 percent. In 2015-16, the rate of employment growth was 0.4 percent.
Mahesh Vyas keeps writing on employment figures continuously. This time it has been written that Indian companies hide a lot of data. They need more information. Vyas writes that we have not been able to force companies to give correct figures of employment. It is the law that companies will provide different employment statistics for permanent and temporary variety.
Mahesh Vyas's organization CMIE studies the data of 3,441 companies. For 2016-17, he has data of more than 3,000 companies. In 2013-14, they had data of only 1443 companies.
In 2016-17, 3,441 companies have given data to give 84 lakh jobs. In 2013-14, 1,443 companies had data to give 67 lakh jobs. According to this, there is not a significant increase in employment even after the number of companies more than double.
A new figure of the Employees Provident Fund Organization (EPFO) has come up. It has been reviewed by how many employees are connected to this from September to May this year. The first estimate was that during this, 45 lakh employees were involved. After review, it has decreased by 12.4 percent. That is, the number is now 39 lakh.
Figures of the EPFO continue to dwindle. The reason given is that companies file their returns late. Those employees who are removed or left leave their information too late. The EPFO payroll has been reviewed every month from September 2017 to May 2018. If there is a reduction of 5 percent in a month, then 27 percent in any month. This year there is a deficit of 10 percent in May. While it increased by 24 percent in June next month. According to the overall review, the number of employees joining the EPFO in 9 months is around 39 lakh.
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