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With both BJP and Congress promising unemployment doles, is India’s growth story over?

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BJP’s Rajasthan and Congress’s Telangana election manifesto promises of an unemployment dole of Rs.5,000 and Rs.3,000 per month respectively can be read as a sign of the hard times that we are passing through. Rajasthan solidifies the socialist turn that the BJP, which is generally believed to be more fiscally conservative than the Congress, has been forced to take to combat anti-incumbency. In Telangana, Congress knows that it is hard to beat TRS on welfare scheme announcements and appears to be offering the unemployment dole to buttress the criticism faced by the KCR government for failing on the jobs front even as it splurged money on welfare schemes.

That an unemployment allowance has featured prominently in manifestos is an implicit acceptance that joblessness has become too big to ignore and the demand for jobs cannot be neglected any longer. With a high unemployment rate of 13.7% (CMIE figures), Rajasthan with 60.2%........

© The Times of India