Approximately 50 lakh people in India lost their jobs between 2016-18.

India Lost 5 Million Jobs - Economic Growth Failed To Create Jobs?
India Lost 5 Million Jobs – economic growth Failed To Create Jobs?

According to a report, approximately 50 lakh people in India lost their jobs between 2016-18.

A report titled ‘State of Working India‘ by Azim Premji University highlighted that the beginning of the decline matched with “Demonetization” exercise.

The report also said, “no direct causal relationship could be established” between the trends.

The report further said, that these unemployed people were mostly youth.

The report also argued that while economic growth has allowed India to bring down poverty rates dramatically, especially extreme poverty, growth has not translated into jobs.

It suggested the government that given India’s burgeoning youth Population, there is an urgent need to craft a Government Policy, adequately supported by the Budgetary resources, to promote robust employment generation.

“Ultimately, the Best remedy for alleviating poverty is enough jobs and enough high-quality jobs,” it added.