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Chidambaram criticizes union budget 2024-25, emphasizes unemployment crisis in Rajya Sabha
The Business Guardian
|July 25, 2024
During the discussions on the Union Budget 202425 in the Rajya Sabha on Wednesday, Congress leader and former finance minister, P. Chidambaram, highlighted four significant challenges facing the economy, with unemployment being the foremost issue.
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According to data from the Centre for Monitoring Indian Economy (CMIE), the unemployment rate for June 2024 stands at 9.2%. Chidambaram emphasized the urgent need for creating sufficient employment opportunities, pointing out the budget’s introduction of the Employment Linked Incentives (ELI) scheme as an indication that the Production Linked Incentives (PLI) scheme is not generating the expected employment.
Chidambaram called on Finance Minister Nirmala Sitharaman to disclose the number of jobs created by the PLI scheme. Expressing scepticism about the effectiveness of the ELI scheme, he said, “It is an inspiring idea, but it does not inspire confidence that you will be able to place 290 lakh people under the ELI scheme as described.”
Dit verhaal komt uit de July 25, 2024-editie van The Business Guardian.
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