Telangana among best performing States in unemployment at 2.2 per cent
Hyderabad: Even as India’s unemployment rate reached a four-month high of 7.91 per cent in December, Telangana made it to the top five States with lowest unemployment rates and secured fourth spot with just 2.2 per cent. However, the State topped all others in lowest rural unemployment rate at a meagre 0.4 per cent. While […]
Hyderabad: Even as India’s unemployment rate reached a four-month high of 7.91 per cent in December, Telangana made it to the top five States with lowest unemployment rates and secured fourth spot with just 2.2 per cent. However, the State topped all others in lowest rural unemployment rate at a meagre 0.4 per cent.
While neighbouring Karnataka has the lowest unemployment rate of 1.4 per cent, Gujarat and Odisha were in second position with 1.6 per cent, Chhattisgarh third at 2.1 per cent closely followed by Telangana in the fourth rank.
According to the latest report published by Centre for Monitoring Indian Economy (CMIE), Telangana maintained a steady decline in unemployment rate since the Covid-19 pandemic. The State reported highest unemployment rate of 14.7 per cent in May 2020 when the first lockdown was imposed and India’s unemployment rate stood at 21.7.
But with the proactive measures taken by the State government propelling the growth of agriculture and allied sectors tremendously, Telangana recovered faster than others. Due to the unprecedented growth in agriculture and allied sectors, the rural unemployment rate in December 2021 was recorded at just 0.4 per cent against the national average of 7.2 per cent. In terms of urban unemployment rate, the State registered 6.3 per cent against India’s 9.2 per cent.
Telangana especially Hyderabad has been one of the largest job providers in the country, with not only locals but people from other States flocking to the State in search of livelihood. It is one of the major States to maintain lowest unemployment rate since the first lockdown imposed due to Covid-19 pandemic.
As per the Reserve Bank of India’s Handbook of Statistics on the Indian Economy 2020-21 published in September 2021, Telangana has emerged as the fourth largest contributor to the country’s economy. The Net State Value Added (NSVA) by Telangana at current prices to the country increased from Rs 4,16,930 crore at the time of Statehood in 2014-15 to Rs 8,10,503 crore in 2020-21, a two-fold increase in a short span of just seven years. The State’s NSVA in agriculture was over 1.76 lakh crore followed by real estate, ownership of dwelling and professional services (Rs 1.59 lakh crore), trade, repairs, hotels and restaurants (Rs 1.32 lakh crore).
In its report published in September 2021, the NITI Aayog termed Telangana as sixth highest contributor to India’s Gross Domestic Product (GDP) in 2020-21. The Gross State Domestic Product of Telangana by provisional estimates was pegged at Rs 9.80 lakh crore, an increase of 94% from its 2014-15 value.
Country vs State Performance in Unemployment
— India’s unemployment rate is 7.91 per cent
— Telangana’s unemployment rate is 2.2 per cent
— Rural unemployment rate is 0.4 per cent in Telangana against India’s 7.2 per cent
— Urban unemployment rate is 6.3 per cent in Telangana against India’s 9.2 per cent
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