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Unemployment Rate Increases To 7.83%; Urban Joblessness Higher; Know More 4.78/5 (9)

The country’s unemployment rate increased to 7.83 per cent in April from 7.60 per cent in the previous month, according to data from the Centre for Monitoring Indian Economy (CMIE). Haryana witnessed the highest unemployment rate of 34.5 per cent, followed by Rajasthan at 28.8 per cent.

The joblessness rate in urban areas rose to 9.22 per cent in April as compared with 8.28 per cent in the previous month, while the rural unemployment rate fell to 7.18 per cent from 7.29 per cent, according to the data.

Job opportunities have been hit by sluggish domestic demand and the slow pace of economic recovery amid rising prices, the Centre for Monitoring Indian Economy (CMIE) said.

According to recent data from the National Statistical Office, the Employees’ Provident Fund Organisation (EPFO) added over 5.18 crore subscribers between September 2012 and February this year.

“The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation has released the press note on Employment Outlook of the country covering the period September 2017 to February 2022, based on the administrative records available with selected government agencies to assess the progress in certain dimensions,” the government said in a statement.

According to the data on the employee outlook in India, around 9.34 lakh new employees joined the EPF scheme in February, which is down by almost 2 lakh than the preceding month. In January, EPFO had added 11.14 lakh new subscribers.

“Since April 2018, this ministry has been bringing out the employment-related statistics in the formal sector covering the period September 2017 onwards, using the information on the number of subscribers who have subscribed under three major schemes, namely the Employees’ Provident Fund (EPF) Scheme, the Employees’ State Insurance (ESI) Scheme and the National Pension Scheme (NPS),” the statistics and programme implementation ministry said.

Retail inflation in the country during March accelerated to 6.95 per cent, signalling a sustained food price rise. Inflation, as measured by the Consumer Price Index was 6.07 per cent in February. Food inflation jumped to 7.68 per cent in the reporting month as compared to 5.85 per cent in February. The spike in the food basket was due to a sharp rise in prices of oils and fats which climbed 18.79 per cent year-on-year in March.

The GST collections in April hit an all-time high of Rs 1,67,540 crore on the back of better compliance and faster economic recovery. It is Rs 25,000 crore more than the previous highest collection of Rs 1,42,095 crore recorded in March, the finance ministry said in a statement on Sunday.

State-wise, Maharashtra saw the most GST collection at Rs 27,495 crore, followed by Karnataka (Rs 11,820 crore), Gujarat (Rs 11,264 crore), Uttar Pradesh (Rs 8,534 crore), Haryana (Rs 8,197 crore), according to the latest official data

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