Why in news?
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The government set up a 10-member Cabinet Committee on Employment and Skill Development with Prime Minister Narendra Modi as its chairman.
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The panel on employment is one of two Cabinet committees set up to spur economic growth and rackle unemployment.
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Reason behind the step:(1) Employment data for 2017-18, released on May 31 after the Lok Sabha elections, said India’s unemployment rate rose to 6.1% in the period, the highest in 45 years.
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Committee includes:(1) Home Minister, Finance Minister, Railway Minister, Minister of Agriculture, MHRD, Petroleum and Natural Gas Minister, Minister Skill and Entrepreneurship and Ministers of State Labor and Housing and Urban Affairs.
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Status of GDP:(1) GDP has fallen to 5.8% in the last quarter of 2018-19 lowest in last five years.(2) The GDP growth for 2018-19 was 6.8 %, against the target of 7.2 %.(3) The fall in growth is result of dip in the performance of the core sectors of the economy, as the eight core sectors recorded a growth of just 2.6 % in April, compared with 4.6% in the same month last year.(4) The country’s economic growth saw the third straight fall in quarterly growth, raising concerns about the slowdown
Source
The hindu