Letter to BS: India Inc staff addition in FY 18 slowest in three years

The current oil crisis and depreciation in the value of the rupee against the US dollar have hampered imports and accordingly slow industrial growth thus creating a drop in fresh employment

This refers to “India Inc staff addition in FY 18 slowest in three years” (November 9). The internal economic slowdown has definitely contributed to the situation especially during demonetisation when the non-availability of cash and restrictions on cash withdrawals led to the inability of employers to pay wages to their employees, who didn’t have access to electronic funding. This led to a fall in the labour force as it resulted in forced unemployment. The IT industry had also reached a temporary saturation point in its development due to slow economic growth. This was caused by a fall in the development