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Job creation is a paradox, joblessness the truth; Industry survey does not stand the test of facts

23 31 295
16.03.2019

Paradox is a situation when a mathematician proves a thing true which is otherwise untrue. The latest CII report on net job creation in the MSME sector probably falls in this category of paradox as against all gloom over joblessness in the country. The report was a surprise because only a few weeks ago NSSO’s leaked survey said unemployment rate was worst in 45 years. The chairman of PM’s Economic Advisory Council had said, “We will have a new round of the NSS which will… show …substantial employment and substantiated job creation”. Now CII has come up with a survey that proves his claim. Everything seems to have a pattern in this election season.

The CII report claimed that MSME sector in India has shown a 13.9 per cent net increase in jobs in the last four years, ie a 3.3 per cent growth per year. It was the result of surveying 1.05 lakh selected MSME firms based in 350 industrial centres across 28 states of the country. CII research scholars, let us assume they are bonafied, seem to have forgotten to verify the survey results they landed at with other tools available. A little common sense will convince that the level of growth in job creation should have been reflected in the growth pattern of everything of or related to MSMEs, such as investment, credits, production, electricity consumption, deployment of machineries, and the status of their being operational or closure etc on the one hand, and savings, consumption, and well-being of the employees on the other on the other. Since MSME is the second largest sector in providing employment in the country giving employment to........

© National Herald