New Delhi, May 31: India’s unemployment rate increased to 6.1 per cent in 2017-18. This year's unemployment rate was the highest since 1972-73. The data was released by the labour ministry a day after Narendra Modi took charge as the Prime Minister of India for the second consecutive time. It showed 7.8 per cent of all employable urban youth being jobless, while the percentage for the rural was 5.3 per cent. The joblessness among male on all India basis was 6.2 per cent, while it was 5.7 per cent in the case of females. GDP For Financial Year 2018-19 Down To 6.8% vs 7.2% in 2017-18, Q4 GDP Falls To 5.8%; India Loses Fastest Growing Economy Tag.

The figures released by the government today, confirmed the report of  Business Standard, which in January reported that the country’s unemployment rate stood at a 45-year-high of 6.1 percent in 2017-18. After the Business Standard’s reports, the Congress had also slammed the Modi government. India's GDP Estimated to Grow at 7.2%; Agriculture and Manufacturing Among Accelerating Factors: CSO.

In January, the acting Chairman of the National Statistical Commission (NSC) PC Mohanan, along with external member JV Meenakshi, had also resigned expressing disappointment over the treatment meted out by the Narendra Modi government. The former members believed that the government sidelined the commission before the release of the backdated Gross Domestic Product (GDP) series in 2018.

Meanwhile, the GDP in the fourth quarter slowed to 5.8 percent as compared to the previous quarter. In December quarter the GDP was recorded at 6.6 percent. The annual GDP also falls to 6.8 percent. This year’s annual GDP growth is reported to be at a five-year low. Meanwhile, India also lagged behind China in terms of GDP. In the March quarter, China’s GDP was 6.4 percent.

(The above story first appeared on LatestLY on May 31, 2019 08:38 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).