While Narendra Modi-led fascist Indian government had claimed that the repeal of special status of Indian illegally occupied Jammu and Kashmir will enhance development in the territory, the ground situation after the passage of three years is contrary to these assertions.
Data from a private research firm the Centre for Monitoring Indian Economy (CMIE) reveals that the unemployment rate in IIOJK has severed past 30 percent in the month of August, which is the highest in the last several years.
The CMIE has pegged unemployment rate of the territory at 32.8 percent marking a spike of nearly 12 percent against the month of July when the unemployment rate had gone up to 20.2 percent. The monthly figures of the unemployment rate maintained by CMIE since 2016 show that in January 2016 the unemployment rate in IIOJK stood at 12.3 per cent. It reached a high of 29.6 percent in November 2016, however, after the abrogation of special status under Article 370, the unemployment rate has gone up considerably.
In March 2022, the rate went up to 25.0 percent, which was the second highest since November 2016. The unemployment has been on a rise since the abrogation of Article 370, as per experts. In less than a month after abrogation of Article 370, the data reveals, the unemployment in IIOJK showed a spike of nearly 6 percent when it rose from 16 to 22 percent.
During the military siege post repeal of special status of IIOJK, businesses in the valley suffered losses worth Rs 18,000 crore from August 5, 2019 to January 2020. With the rising rate of unemployment rate in IIOJK, several scholars have taken to alternative forms of employment. Recently news portal The Kashmiriyat reported that two scholars, one Ph.D., and one M.Phil, had opened a tea stall to earn their livelihood.
The IIOJK authorities maintain that they are employing the youth, however, the figures released by CMIE show an upward trend of unemployment in the territory. —KMS