The unemployment rate in India rose to 7.78% in February, the highest since October 2019, Reuters reported on Monday, citing data released by the Centre for Monitoring Indian Economy. This reflects a decline in economic activity in the country.
In rural areas, the unemployment rate increased to 7.37% in February from 5.97% in January, while in urban areas, it fell to 8.65% from 9.70%, according to the data released by the Mumbai-based private think-tank.
This came after India’s economic growth slipped to a nearly seven-year low of 4.7% in the October-December quarter. The figures released by the government last week had made significant revisions to the estimates for the previous two quarters. For the July-September 2019 quarter, the economic growth was revised upwards to 5.1% from 4.5% estimated earlier. Similarly, the April-June growth was revised upwards to 5.6% from 5%. This meant the growth in October-December was the lowest in 27 quarters.
You’ve read Scroll.
Now help sustain it
Scroll is funded by readers, not corporate owners. If you believe our work matters, support our newsroom. Become a member today!
We’re not driven by clicks or corporate interests – just honest, independent reporting. Keep us going. Support Scroll today!