PM Narendra Modi Formed Two New Cabinet Committee For Growth, Unemployment
Mumbai: With the economy slowing down and the rising unemployment, Prime Minister Narendra Modi on Wednesday formed two new cabinet committees under his chairmanship to increase economic growth and investment.
According to NSSO data, the economy has become a major cause of concern for the new government, with the GDP falling to 5.8% in the last quarter of 2018-19. In the last financial year, the gross domestic product estimate has been pegged at 6.8 percent compared to the target of 7.2 percent.
Five members of the Cabinet Committee on Investment and Development include Home Minister Amit Shah, Finance Minister Nirmala Sitharaman, Road Transport, and Highways and MSME Minister Nitin Gadkari and Railway Minister Piyush Goyal.
Another 10-member Cabinet Committee on Employment and Skill Development has been formed which includes Shah, Sitharaman, Goyal, Minister of Agriculture and Farmers Welfare, Rural Development and Panchayat Raj Narendra Singh Tomar, Human Resource Development Minister Ramesh Pokhriyal ‘Nishank’, Petroleum and Natural Gas Minister Dharmendra Pradhan, Minister Skill and Entrepreneurship Mahendra Nath Pandey and Ministers of State Santosh Kumar Gangwar (Labour) and Hardeep Singh Puri (Housing and Urban Affairs).
On the employment front, immediately after the election ended, the government released the periodical Labor Force Survey (PLFS) – Annual Report (July 2017 – July 2018), which had an unemployment rate of 6.1 percent, which was the highest in 45 years.
