Even though the central government is talking about rapid improvement in the country's economy, the opposition is not believing its claims. Inflation is skyrocketing in the country and the unemployment rate has increased. Congress leader Rahul Gandhi has once again targeted the government regarding these issues. He has attacked the Modi government by counting the current crisis of the country through social media.
Economy ruined under Modi regime
Congress leader Rahul Gandhi in a tweet referred to many crises in the country. He wrote that at this time there is a power crisis, jobs crisis, farmer crisis, and inflation crisis in India. Due to all this, the people of the country are suffering. He further wrote that all these problems are a case study of Prime Minister Narendra Modi's eight years of misrule. Rahul said that this case study shows how one of the fastest-growing economies of the world can be ruined by misgovernance.
The unemployment rate increased in April
On the one hand, while the government is making claims of rapid improvement in the economy in the country, on the other hand, the rising unemployment rate in India remains a matter of concern. If we look at the latest data from the Center for Monitoring Indian Economy (CMIE), the country's unemployment rate rose to 7.83 percent in April, from 7.60 percent in March. During this period, unemployment has increased in urban areas and the unemployment rate here has increased to 9.22 percent from 8.28 percent in March. Whereas the unemployment rate in rural areas has come down from 7.29 percent in March to 7.18 percent in April. In terms of unemployment, Haryana tops the list with 34.5 percent and Rajasthan with 28.8 percent. With this, the rate of job seekers in the country has come down to 39.5 percent in March 2022 as compared to 43.7 percent in March 2019.
Retail inflation at a 17-month high
Let us tell here that the impact of inflation is increasing on the people of the country, while Finance Minister Nirmala Sitharaman says that it has not reached much of our target. It is worth noting that if we look at the inflation data released by the government in March, retail inflation rose to a 17-month high of 6.95 percent in March, compared to 6.07 percent in February. Apart from this, wholesale inflation in the country has also remained in double digits for 12 consecutive months. In March, the wholesale inflation reached the level of 14.55 percent, which had increased at the rate of 13.11 in February.
Troubled by power crisis
On the one hand, while the government is talking about having enough coal in stock and power generation in the right quantity, on the other hand, there are reports of severe power crises in many states of the country, or say from Uttar Pradesh to Jammu and Kashmir. . If we look at the recent reports, 16 states of the country are in bad shape due to power cuts due to shortage of coal. Unprecedented heatwave in the north and central India has pushed the power demand close to a record 2.14 lakh MW. Apart from UP, Delhi, Bihar, Haryana, Jharkhand, Madhya Pradesh, and Rajasthan, consumers from Jammu and Kashmir to Andhra Pradesh are facing unannounced power cuts ranging from 2 to 10 hours. The power cuts that are happening in India during the scorching summer are the highest in more than six years.
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