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Will unemployment rate increase in India with slow GDP growth?
While a decline in GDP affects the poor worse as India is one of the most unequal societies, it hits your wallet each time a slowdown is recorded. It takes toll on average income of the people and signals a squeeze on job opportunities.
Illustrating the impact of lower GDP growth, R. Nagraj, professor of economics at Indira Gandhi Institute of Development Research, said that given per capita monthly income of Rs 10,534 in 2018-19, an annual GDP growth of 5% means that the per capita income will go up by Rs 526 in FY20.
Illustrating the impact of lower GDP growth, R. Nagraj, professor of economics at Indira Gandhi Institute of Development Research, said that given per capita monthly income of Rs 10,534 in 2018-19, an annual GDP growth of 5% means that the per capita income will go up by Rs 526 in FY20.
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