In early January, we saw reports about India facing a five-decade high job loss crisis with 11 million Indians losing their jobs in 2018 and unemployment rate rising steadily.
This time around a report published by Azim Premji University, Bengaluru reveals that during the period of demonetization in 2016 and GST introduction subsequently, more than 5 million jobs were lost.
The report clarifies though that no direct cause and effect relationship could be ascertained. However, as per lead researcher, Prof Amit Basole:“Apart from demonetisation and GST, as far as informal economy is concerned, I don’t see any other reasons.
