The irrelevance of figures.

The Consumer Pyramids Household Survey (CPHS) by the Centre for Monitoring Indian Economy (CMIE) found that the "national unemployment rate increased by 3 percentage points (PPT) in just one month - from 7.1% in September 2023 to 10.1% in October 2023, coincidentally just before five states went to the polls in November," wrote economist Surjit S Bhalla. Mr Bhalla is on record as saying in 2018, that the four years of Modi government had been the "best years" for the Indian economy. ET. This was after the enormous unnecessary suffering inflicted on the nation (India Today) by an outrageous demonetisation of Rs 1000 and Rs 500 on 8 November 2016 (wikipedia). India's GDP growth fell from 8.26% in 2016 to 6.80% in 2017, 6.45% in 2018 and then to a dismal 3.87% in 2019. Macrotrends. The recent high growth rates are a rebound from the enormous 5.83% contraction in 2020 due to the most stringent lockdown imposed on the country on 25 March 2020, when there were a mere 500 cases of Covid-19. HT. Mr Bhalla's appreciation of Prime Minister Modi has nothing to do with his appointment as Executive Director (India) to the International Monetary Fund (IMF) in October 2019. The Wire. Mr Bhalla sees a conspiracy to malign the government's economic record just before elections in five states in November (wikipedia). If it's any consolation, the vast majority of voters do not read, understand or care about the rate of GDP growth or a few PPT difference in unemployment levels. They want handouts. Now. "Voters have learnt to look for what they can get today, not jam tomorrow, and seem to choose parties that offer the most generous packages - which encourages a rush to raid the treasury. Distrust of governments is such that promises relating to neglected long-term development issues, like improving school education or public health care, have little resonance," wrote TN Ninan. The BJP is right up front with all kinds of handouts for different sections of society. ET. The Periodic Labour Force Survey (PLFS), which defines weekly status as "whether you were employed for at least one hour in the previous week", found that "Unemployment declined from 7.4% in 2017-18 to 4.2% in 2022-23." And the Labor Force Participation Rate (LFPR) has increased from 47% in 2017-18 to 54%, while female LFPR has soared from 20.7% in 2017-18 to 31.3% in 2022-23. But then, "Centre's free ration scheme will be extended by 5 more years, Prime Minister Narendra Modi said on 4 November. 80 crore (800 million) people will benefit from it." ET. If 54% of people are gainfully employed why do 57% of the population need free food? Rs 600 billion was allocated to the Mahatma Gandhi Rural Employment Guarantee Scheme (MGNREGS) but another Rs 280 billion may be required in this financial year. The Center has already released Rs 660 billion plus an additional Rs 100 billion. An estimated Rs 1.1 trillion will be needed in 2024-25. ET. People enrol for this scheme only if they cannot find any other source of income. People know what they feel. Can figures make feelings different?