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Stagflation is giving rise in unemployment in April, growth is declining and inflation is increasing

In April, the unemployment rate in urban areas rose to 9.22 percent.

Has India’s economy entered stagflation? This question is because, the growth rate is decreasing and inflation-unemployment is increasing continuously. The unemployment rate rose to 7.83 percent in April.

For the last two years the whole world corona pandemic (Corona pandemic) was struggling with. When the effect of Karona subsided, the problem of slowdown in the economy started which was already going on. After that whole world inflation (inflation) is disturbed. Rising inflation in India has also become a matter of concern. Now the challenge of stagflation has come before the policy makers, not inflation. Stagflation is a situation when the growth rate of the economy is decreasing, inflation is increasing and the problem of unemployment (unemployment problem) Getting serious. According to the latest information, the unemployment rate in the country increased to 7.83 percent in April, while it was 7.60 percent in March. This information was given in the data released on Monday.

The Center for Monitoring Indian Economy (CMIE), an organization that monitors the Indian economy, released the figures for April and said that the unemployment rate in urban areas rose to 9.22 percent, compared to 8.28 percent in March. In contrast, the unemployment rate in rural areas came down to 7.18 percent in April. It was 7.29 percent in March.

Highest unemployment in Haryana

According to CMIE, Haryana has recorded the highest unemployment rate of 34.5 percent. After that Rajasthan is at second place with 28.8 percent unemployment rate. Bihar is third with 21.1 percent and Jammu and Kashmir is fourth with 15.6 percent. CMIE Managing Director Mahesh Vyas said that labor participation rate and employment rate have also seen an increase in April. He called it a good progress for the Indian economy. Vyas said that in April 2022, the employment rate reached 37.05 percent, which was 36.46 percent a month ago.

Government should focus on capital expenditure

Stagflation is now being discussed by industry veterans. Sanjeev Mehta, boss of Hindustan Unilever, India’s largest and oldest FMCG brand, said that stagflation is starting to worry. He suggested to the government that the government needs to do capital expenditure on a large scale. A capital expenditure of Rs 7.5 lakh crore was announced in the budget this year. It should be started as soon as possible. This will strengthen the economy. He said that till date I have not seen inflation of this level. From edible oil to petrol and diesel, the price is touching the sky.

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Source: www.tv9hindi.com

: Language Inputs

Shehnaz Ali
Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.
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