India unemployment rate in October rose to 6.98% from 6.67% in September, according to data released by the Centre for Monitoring Indian Economy (CMIE).
The novel coronavirus has infected nearly 8.2 million people in the world’s second-most populous nation.
Hitting large parts of the economy.
Economic activity has resumed after the government eased pandemic lockdown restrictions.
Both output and new orders, which tracks overall demand.
Grew at their sharpest rates in more than 12 years and.
Foreign demand expanded at its quickest pace since December 2014.
India economy has not done so well in the last two years, regardless of claims that the growth figures in the last few quarters were better than it was in 2013.
The harsh reality is that the economy has been in stagnation. The cause of the economic slowdown is claimed to be due to the dearth of demand in the market.
Private investors held back on new ventures and existing players.
Did not expand because of the hunch that there was no demand