Yechury Questions India's Job Data Credibility Amid Rising Unemployment

Sitaram Yechury, CPI(M) general secretary, criticizes India's job data credibility after RBI reports 4.7 crore jobs added in 2023-24. He highlights CMIE data showing unemployment peaking at 9.2% in June 2024. Yechury claims Modi's propaganda distorts truth as unemployment rates have increased consistently since 2014.

Sitaram Yechury, the general secretary of the Communist Party of India (Marxist), has raised serious concerns about the credibility of India's employment data. This comes after the Reserve Bank of India (RBI) announced that nearly 4.7 crore jobs were added during the 2023-24 period.

Yechury pointed out discrepancies by sharing figures from the Centre for Monitoring Indian Economy (CMIE), highlighting that unemployment rates surged to 9.2% in June 2024. According to CMIE, unemployment has been on the rise since 2014, peaking this year.

Despite claims by the RBI that job growth was at 6% for the past year, Yechury criticized the Modi administration, accusing it of misleading the public through propaganda and spin. He argued that the real unemployment situation is far more dire.

(With inputs from agencies.)