BJP cites RBI's employment data to laud Modi govt's economic policies

BJP cites RBI's employment data to laud Modi govt's economic policies

The BJP on Tuesday cited the latest RBI report, which highlighted the rise in the employment rate, to assert that reforms effected by Prime Minister Narendra Modi have strengthened the economy and created job opportunities.

Its spokesperson Syed Zafar Islam said in a statement that the Indian economy was considered fragile in 2014 but the "Modinomics" brought in a transformation and its strength is now being recognised globally.

India witnessed a 2.5-fold increase in job additions during the financial year 2024 compared to the previous fiscal, he said.

According to data released by the Reserve Bank of India, India added a substantial 4.67 crore jobs and 64.3 crore people were actively employed, up from 59.7 crore in the preceding fiscal year, marking the highest job additions since 1981-82, he said.

He said the RBI's KLEMS database relies on the government's periodic labour force survey for calculating employment statistics.

He noted that India's GDP growth at 8.2 per cent in FY 2023-24 was up from 7 per cent last year, reflecting a robust economic environment.

Accusing the Congress of damaging the economy and neglecting employment from 2004 to 2014 when it was in power, he claimed the opposition party prioritised the interests of a family over national welfare.

The BJP-led NDA government remains dedicated to fulfilling the aspirations of the youth and will continue to make decisions in their interest, he said, calling it "Modi's guarantee".

The Congress and other opposition parties have questioned the RBI data and cited the findings of non-government economic think tank Centre for Monitoring Indian Economy (CMIE) which showed unemployment was at 9.2 per cent in June 2024.