Unempolyment rate falls: India has been imposed on India by US President Donald Trump, which includes 25 percent base tariff, which is currently effective. Apart from this, 25 percent additional tariffs have also been imposed due to purchasing oil from Russia, which will be applicable from August 27. Amidst all this, it is a relief for India that the unemployment rate of the country has come down to 5.2 percent in July, compared to 5.6 percent in June.

Unemployment and inflation rate
The unemployment rate of youth above 15 years in rural areas came down to 4.4 percent in July, which was 4.9 percent in June. The seasonal needs related to agricultural works are being considered as an important reason behind this. However, the unemployment rate in urban areas rose slightly to 7.2 percent in July, compared to 7.1 percent in June. The unemployment rate in urban youth (age group 15 to 29) also increased to 19 percent in July, which was 18.8 percent in June.

The unemployment rate of 15 years and above was 5.4 percent in the April-June quarter. At the same time, the Labor Force Participation Rate increased to 54.9 percent in July, which was 54.2 percent in June.

GST Reform and Indian Economy
The announcement of the GST reform by the Government of India raises hope of increasing production on the domestic front and creating opportunities for new jobs. This decision has been taken at a time when the US has announced a heavy tariff on Indian goods.

On the other hand, last week, S&P after about 18 years to India’s long -term sovereign credit rating BBB-upgraded BBB Is done. The US rating agency has cited strong economic growth and better monetary policy behind this. India’s GDP growth was 8.8 percent between 2022 and 2024, the highest in the Asian sector. In the coming three years, it is expected to grow at the rate of 6.8 percent.

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