As these restrictions on movement are relaxed, these workers can be expected to return in search of employment, according to the Centre for Monitoring Indian Economy (CMIE).
New Delhi [India], June 11 (ANI): The Supreme Court on Friday refused to pass any order in connection with the Public Interest Litigation (PIL) seeking a direction to the Union of India to take effective and remedial measures to redress and overcome the financial stress and hardship faced by the borrowers of the country during the second wave of COVID-19 and lockdown.
Govt may extend scheme for job creation
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The government is likely to extend the Atmanirbhar Bharat Rozgar Yojana that offers incentives to the private sector for creating new jobs. The scheme is likely to be extended beyond June 30.
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Launched after the first wave of the pandemic, the scheme was for a nine-month period–October 1, 2020, to June 30, 2021.
The government is likely to extend the Atmanirbhar Bharat Rozgar Yojana that offers incentives to the private sector for creating new jobs as the country stares at high unemployment due to the severe second wave of the Covid-19 pandemic. The scheme is likely to be extended beyond June 30, a top government official told ET, adding that a decision is expected shortly.
Phased unlocking to help recover two-thirds of lost jobs: CMIE
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As per the CMIE data, while the labour participation rate fell further to 39.7% as on June 6 compared to 40%, the employment rate dropped further to 34.6% compared to 35.3% in May.
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CMIE, however, is optimistic that this relentless loss of employment is expected to abate somewhat in the coming weeks as many parts of the country that were under a lockdown have started announcing cautious relaxations.
The phased unlocking across the country is expected to recover about two-thirds of the lost jobs or 17 million of the 25 million non-farm jobs lost since January even as the unemployment rate continued to inch higher and stood at 13% as of June 6, the Centre for Monitoring Indian Economy said.