Arun Jaitley on NSSO unemployment data: ‘Absurd to say economy growing without job creation’ 

Arun Jaitley 

Finance minister Arun Jaitley, on Friday, reacted to the National Sample Survey Organization job survey of 2017-18 and said that it is just a draft, which has not been approved, and not a report. According to the survey, there is a surge in the unemployment rate to over 6 per cent.

Speaking to news agency ANI, Jaitley said, “Let me clear the disinformation here. If our average real GDP growth is 7.5 per cent and inflation is 4.5 per cent, which now is 2.19 per cent, then our nominal growth adding the two is about 11.5 to 12 per cent. If the economy is growing at 12 per cent nominal growth for the last five years, it would be an economic absurdity to say that such a large economic growth, the highest in the world, doesn’t lead to the creation of jobs.”

He further added, “If no job creation takes place then there is social unrest. This has been a peace period where no major social agitation has been witnessed in the last five years.”

He also castigated Congress for their criticism on the interim Budget 2019, especially the proposed schemes for small scale farmers, he said, “Please don’t shed crocodile tears today for farmers. If the opposition also has several governments, let them announce similar schemes. I am sure other governments will also consider this.”

Related