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Lay-off rate above 23 per cent in May too: Report

Unemployment in the country remains at a peak due to the outbreak of the Coronavirus and lockdown. Despite the slowdown in the lockdown, the unemployment rate in the country stood at 23.48 per cent in May. This is revealed by the latest data released by the Center for Monitoring Indian Economy (CMIE).

There was a huge decline in the production of the industry

However, this is slightly less than the unemployment rate of 23.52 per cent in April. Significantly, the fifth phase of lockdown has been implemented across the country. However, it is also being called Unlock-1, because more economic activities have been opened during this period. But it does not seem that the lockdown which was relaxed in May has had a significant effect on employment. According to the latest government data, the production of core sector industry declined by 38.1 per cent in April.

High unemployment in cities

According to the news agency Reuters, CMIE has stated that the unemployment rate in urban areas was the highest during this period. One reason for this is that there are more red zones in urban areas. When the lockdown came into force in the country on March 25, the experts were warning that a large number of people would be unemployed. According to the earlier CMIE data, more than 12 crore people in the country have become unemployed due to the lockdown.

Modi Government stated on farmer-MSME.

On the first day of Unlock 1, there was an important meeting of the Modi cabinet. Many important decisions were taken by the government in this meeting.

  • The meeting of the cabinet was held under the chairmanship of Prime Minister Narendra Modi. This is the first meeting of the government’s second term. Union Minister Prakash Javadekar said that in the meeting, many decisions were taken regarding farmers, MSMEs. Javadekar said MSMEs have a big role in building a strong and important India.
  • Looking at Kovid, several announcements have been made for this sector. Several announcements have been made for its effective implementation. In the meeting, Javadekar said that the limit of MSME has been increased from 25 lakh to 1 crore. The Government of India has revised the definition of MSME.
  • The limit of business of MSME has been increased to Rs 5 crore. The decisions taken in today’s meeting will help in increasing employment. More than 60 million MSMEs have an important role in the country. The government has taken big decisions so that people can do their work properly.
  • Arrangements have been made to allow MSMEs. There is a provision to give a loan of 20 thousand crores for MSMEs. Salon, paan shop and cobbler will also benefit from this scheme. The government is working towards making business easier. There is a plan of 3 lakh crores to give loans to MSMEs. Loan scheme has been introduced for the street vendors. Those on street tracks will get a loan of 10 thousand.

Javadekar said that the definition of MSME (micro, small and medium enterprises) has been changed. He informed that for the first time the proposal of equity of 50,000 crores for MSME has come.Javadekar said special microloan scheme will be started for the street vendors. 50 lakh people will get benefit from this scheme. He said for the farmers that the government is fulfilling the promise of keeping the minimum support price (MSP) one and a half times its total cost.

Giving information about the decisions taken by the farmers, Agriculture Minister Narendra Singh Tomar said that the purchase of wheat has been 360 million metric tons. The support price recommendation for 14 crops has been accepted.Tomar said that if the farmer pays his loan on time, then he gets a loan in 4 per cent only. Due to the lockdown, the government gave time till May 31 to the farmers to repay the loan. But now it has been extended till 31 August.

There is a lockdown in the country for the last nearly 70 days to prevent the spread of the coronavirus. Today, Lockdown 5 has started, which will continue until June 30. Meanwhile, the number of corona infections is also increasing.After 8,392 new cases of Kovid-19, infection cases have increased to 1, 90,535 in the country. At the same time, after the death of 230 more people, the number of people who died from the virus increased to 5,394.

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