Genesis India Consumer Indicator at new high of 64.47 in March 2019 from 63.55 in December, 2018
Suseem DhaneshwarApril 12, 20190 Comments
1. The Genesis India Consumer Indicator (GICI) increased to a new record high of 64.47 in March from 63.55 in December.
2. Four out of the five components which comprise the GICI increased in March. Only durable goods buying conditions fell on the month, although this was marginal and it remains close to the record high posted in December.
3. Respondents were more optimistic about their current financial situation. The current finances indicator increased to 54.09 in March from 52.5 in December, the highest since the series began in October 2017. Survey participants were also more optimistic about their future finances.
The steady progress from September 2018 suggests that, the respondents are optimistic about creation of new jobs. It has been observed that on an average 20-
report Anil Dhaneshwar, Managing Director of GMMR said, “the job market will improve steadily and any efforts 25-30 lakhs jobs are created on monthly basis. But due to the higher employable population base this number is still not adequate enough to address the growing unemployment situation in the country.
Due to the continuous draught like situation in large parts of India, for year 2018 has also affected agricultural employment mostly in rural areas.
According to Government estimates, in organized job market 54.7 crore population is employed.
According to our estimates, the unorganized job market which includes marginal workers and housewives the population is approximately 20 Crore.
Currently there are 76 Crore potentially underemployed/ unemployed population in Metro & Urban areas. To add to that approximately 6 Crore from Rural areas the figure goes to 16 Crore potentially unemployed population in India.
The reason for unemployment may be voluntary un-employed or potential un-employability because of lack of skill required for the job. The proportion of such population roughly ranges between 12-15% of unemployed at any point of time.