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Unemployment in India and the World: A Decadal Overview (2015-2024)

Introduction Unemployment is an important economic indicator of the well-being of a country's economy. It is defined as the proportion of people looking for and willing to work but not working. Unemployment in India has been a chronic phenomenon, determined by structural inefficiencies, business cycles, and external shocks such as the COVID-19 pandemic. Unemployment is different around the world, since it is determined by business cycles, technological advances, demographic changes, and government policies. Historical Background Indian unemployment developed as the country underwent economic and political change: Pre-Independence Period (Until 1947) : British colonial rule in India was plagued by rampant poverty and unemployment because of deindustrialization, decline of the ancient crafts, and a stagnant agriculture economy that could not keep up with the rising population. Post-Independence Phase (1947-1980s) : India had a directed industrialization mixed economy following inde...
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Karnataka's Freebie policies: Benifit or Burden?

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Recent times have sparked off a debate on freebie policies of the Karnataka government, especially amid Karnataka Congress Party's manifesto during the 2023 polls. It aims to cover most of the pressing social welfare needs, have sparked debates on their economic feasibility and what their long-term impact on the economy. This blog goes into the policies, their implications on finances, people's reception, and the broader lessons they offer for balancing welfare and fiscal prudence. What are the freebies as guaranteed by the ruling party in Karnataka? The government of Karnataka launched five welfare programs targeting specific segments of the population, including women, the poor, and jobless individuals. They are: 1. Griha Jyoti - Free electricity up to 200 units, in addition to 10% over the average annual consumption. 2. Griha Lakshmi - ₹2000 monthly allowance to the head woman of BPL and APL families. 3. Anna Bhagya - a higher distribution of food grains to...
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