Will govt maintain record on employment of those who availed edu loans?Manish Tewari in LS

Congress MP Manoj Tiwari raised concern in the Lok Sabha on Monday, asking the government, whether it will consider maintaining a record, listing the information of the employment status of individuals who availed education loans from banks. 

"The very basic idea of education loans is that you take the loan and complete your education and then get employed and earn. By that earning, you repay the loan," said Manish Tiwari. 

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"The unemployment rate today is the highest in 45 years. Given the current economic slowdown, will the government consider maintaining a central database, where they have information that somebody who has availed education loan has got employment or not?" Tiwari questioned. 

To this, the Minister of State for Finance, Anurag Thakur replied that there is no provision for the banks to maintain central data. "Banks don't keep central data, there is no provision," said Thakur. 

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CMIE Report on Unemployment Rate in Goa

A Centre for Monitoring Indian Economy (CMIE) report has pegged the unemployment rate in the state of Goa in November at 34.5 percent, the highest in the country. Calling the 34.5 percent unemployment rate as "statistical outlier", it said the government has undertaken substantial recruitment drives in its departments this year and has facilitated the private sector to flourish, resulting in enhanced job opportunities for the locals. While the government is examining the details of the report and the survey conducted by CMIE, it is pertinent to highlight several issues that are apparent from the bare reading of the report, the CMO said in a statement released here.

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As per the data of CMIE itself, the unemployment rate in Goa for past years has averaged close to the national average of around 7 percent with seasonal fluctuations pulling unemployment to as low as 2.1 percent, it said. Even the unemployment figures for last month, that is October 2019, stands at 9.1 percent. 

Further, a comparison with the unemployment figure of the same month (November) in 2018 gives an entirely different picture, wherein the unemployment rate was 2.1 percent, the statement said. The CMO said CMIE's unemployment data for November 2019 for the coastal state needs explanation. The present unemployment figure shows a jump of about 1,600 percent from November 2018 (month to month), it said. 

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(With ANI inputs)