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PM Modi argues against job crisis, says nearly 1.25 crore jobs created every year

Rejecting economists claim that demonetisation led to a rise in unemployment, PM Modi said, "Those who claim there was job loss due to demonetisation don't have stats to back it. People are looking for excuses to discredit the huge decision of demonetisation."

twitter-logo BusinessToday.In   New Delhi     Last Updated: April 26, 2019  | 21:43 IST
PM Modi argues against job crisis, says nearly 1.25 crore jobs created every year
EPFO figures show almost 1.25 crore jobs have been added every year, PM Modi said in an exclusive interview to Aaj Tak

Prime Minister Narendra Modi has refuted the opposition's allegation of joblessness in the country saying that almost 1.25 crore jobs have been added every year in different sectors.

In an exclusive interview to Aaj Tak, PM Modi said that the Confederation of Indian Industry (CII) and Nasscom reports have shown there has been an increase in job creation.

EPFO figures show almost 1.25 crore jobs have been added every year, PM Modi told India Today TV in Varanasi. The Employees' Provident Fund Organisation (EPFO) payroll data is treated as the official benchmark for gauging job creation in the country.

Prime Minister, however, said that assessing job numbers is a big challenge and no one has the figures to prove it, adding that there is a need to do a lot in this direction.

"Assessing job numbers is a big challenge in front of the government. We'll have to use real-time information technology, we are working on it. We might bring a mechanism of global standards within a year or two," says PM Modi.

Taking credit for bringing in Mudra Yojana, Modi said that 4.5 crore people got bank loans for the first time under this scheme. Under the Pradhan Mantri Mudra Yojana, loan upto Rs 10 lakh is provided to the non-corporate, non-farm small enterprises for income generating activities.

Also Read: Exclusive Interview Live Updates: PM Modi defends demonetisation, says no proof of job losses

He argued how is it possible that jobs are not being created when roads are being constructed, rail and housing construction and other infrastructure development works are in full swing in India.

Rejecting economists claim that demonetisation led to a rise in unemployment, PM Modi said, "Those who claim there was job loss due to demonetisation don't have stats to back it. People are looking for excuses to discredit the huge decision of demonetisation." He also claimed demonetisation has halted the flow of black money and this has changed the mindset of the citizens.

"There is a realisation that days of black money have ended and we have to do business honestly. Tax collections have increased. Some of the credit for low inflation goes to demonetisation," the PM added.

Also Read: PMO owes me Rs 1.4 lakh, IT Dept Rs 85,000: PM Modi in election affidavit

In a surprise move on November 8, 2016, Prime Minister Narendra Modi had announced demonetisation of 500 and Rs 1,000 banknotes to crackdown on black money.

Earlier today, Narendra Modi filed his nomination papers from Varanasi for the 2019 Lok Sabha elections amid a show of strength by NDA allies.

Edited by Chitranjan Kumar

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