What has ‘Modinomics’ done for workers? If they were dreaming of achhe din, they’ve got a nightmare. The Modi government has not only failed on its promise to create more jobs, it has actually ended up reducing them.

The government’s own leaked report, held back on grounds of being unsound, says that unemployment is at a 45-year high. Data from India’s most respected private economic intelligence agency, CMIE, says employment has dropped from about 40.7 crore in 2016-17 to 40.1 crore in March 2019. That’s about 57 lakh jobs lost in the space of three years. RBI-KLEMS data shows a drop of 12 lakh jobs in the two previous years.

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