Prime Minister Narendra Modi has constituted two high-level Cabinets panels for tackling the two big crises that his government is facing in the second term, namely unemployment and economic slowdown. Under the chairmanship of PM Modi, the committees will look into the issues and work on increasing economic growth and job opportunities.
One month ahead of the first budget of the new Modi government that would be announced on July 5, these two panels’ suggestions would surely affect the budget.
In all, eight Cabinet Committees have been set up, which are as follows:
1. Cabinet Committee on Economic Affairs
2. Cabinet Committee on Employment and Skill Development
3. Cabinet Committee on Investment and Growth
4. Cabinet Committee on Security
5. Cabinet Committee on Political Affairs
6. Cabinet Committee on Accommodation
7. Appointments Committee of the Cabinet
8. Cabinet Committee on Parliamentary Affairs
Out of these eight committees, the two committees on economic affairs and employment and skill development (Cabinet Committee on Economic Affairs and Cabinet Committee on Employment and Skill Development) would be directly dealing with unemployment and dropping GDP figures. It is the first time when both of these committees are formed, and PM Modi himself would be heading them.
Besides PM Modi, the Cabinet Committee on Employment and Skill Development also would have HRD Minister Ramesh Pokhriyal ‘Nishank,’ Minister of Skill Development M N Pandey, Home Minister Amit Shah, Finance Minister Nirmala Sitharaman, Commerce & Railways Minister Piyush Goyal, Labour Minister Santosh Kumar Gangwar and Housing, Agriculture Minister Narendra Singh Tomar, Petroleum Minister Dharmendra Pradhan, and Urban Development Minister Hardip Puri.
On the other hand, the Cabinet Committee on Investment and Growth would include members such as Amit Shah, Piyush Goyal, Nirmala Sithataman, and Road Transport & Highways Minister Nitin Gadkari.
One day after the formation of the new Modi government, the Centre confirmed that the leaked NSSO data on unemployment reaching the highest levels in many decades is true.
According to the data that the Union Labour Ministry released in May, 7.8% of all employable urban youth was found to be jobless, and for the rural was 5.3%.
In 2017-18, the unemployment rate was 6.1%, thereby supporting the pre-election leaked report that claimed joblessness to have hit highest in 45 years.
As per the CSO data, economic growth has slowed to a 5-year low of 5.8% in the fourth quarter of 2018-19, pushing India behind China because of the poor showing of agriculture and manufacturing sectors.
Whereas, the Chief Statistician Pravin Srivastava asserted that the latest labor survey couldn’t be compared with earlier ones. He also added that he does not wish to “claim that is 45-year low or high” as it happens to be an altogether another matrix.