On July 25, 2022, the Twitter handle of the Indian National Congress tweeted that India’s Youth Unemployment Rate climbed up from 21% to 42% within 5 years.
A similar post was also shared by Rahul Gandhi on July 15, 2022. The source mentioned in the tweet was CMIE.
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What our research has established
When we dug deeper, we discovered that CMIE had posted the unemployment rate in India on its website, but the youth unemployment rate in India for 2022 was missing.
The World Bank Data Report on India’s youth unemployment rate (15–24 years old) of past few years is:
Even, on the FXEmpire website the data published on March 21, 2021, quarterly, shows that the India Youth Unemployment rate is 22.9%.
After comparing statistics shared by the official Twitter handle of Congress, Rahul Gandhi, and CMIE to World Bank Official data raises many questions about the authenticity.
While working on the matter, we also discovered an intriguing fact. According to the OpIndia report, the director of CMIE, Ajay Shah, a close aide of the former Finance Minister and Congress leader P.Chidambaram, was implicated by CBI in May 2018 FIR in the NSE Co-location and Algorithm scam. During the UPA tenure, Shah served as a consultant to the Finance Minister, the Center for Monitor Indian Economy, and the Indira Gandhi Institute for Development Research.
In 2018, the CBI filed an FIR against Ajay Shah, Sanjay Gupta (The promoter of OPG Security Pvt. Ltd), and Aman Kokrady, his brother-in-law.
According to the Economic Times report, the FIR against them states “ The officials provided unfair access to OPG securities PVT. Ltd. using the co-location facility during the period 2010-2012”
The current MD of CMIE is Mr. Mahesh Vyas, who happens to be the brother-in-law of Ajay Shah. Mahesh Vyas is the close aide of Rahul Gandhi.
As per the report by TFI, Mahesh Vyas was one of the drafting member of Congress general manifesto 2019.
He used to write for Business Standard portraying Congress in brighter light. During the recession in the UPA regime when the economy was worst hit, he argued that growth would be back on track soon.
| Claim | Youth unemployment rate increased to 42% in the last 5 years |
| Claimed By | Congress, Rahul Gandhi & CMIE |
| Fact Check | False |
So, is this an intentional attempt to malign our country? Only time can say that. Till then OnlyFact India team will burst such lies and misinformation. Jai Hind!
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