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P Chidambaram s 5-point guide for Modi govt on how to fix Covid-battered economy
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Last Updated: Jun 04, 2021, 12:27 AM IST
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Synopsis
he unemployment rate that was 5.48% in June 2018 has once again spiked to 11.86%. The Labour Force Participation Rate has fallen from 42.87% in June 2018 to 40.40% in March 2021. The ultimate test is: do people have a decent life, even if they are poor? And do they have enough food and healthcare? Loss of jobs, loss of incomes and a falling per-capita income cannot enhance welfare or a sense of well-being.
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The way out of the deep hole we find ourselves in is to learn from the experience of other countries, listen to renowned economists and take bold decisions.
India Business News: Growth recovery which started in the third quarter of 2020-21 is likely to be maintained in the January-March quarter while the full-year contraction
India's GDP has grown 1.6 per cent in the fourth quarter of FY21 (Q4FY21) after growing 0.4 per cent in the December quarter. The full-year GDP for FY21 has also been revised to -7.3 per cent from -8 per cent.