Labour ministry rebuts Citigroup's research report on employment in India
5 months, 2 weeks ago

Labour ministry rebuts Citigroup's research report on employment in India

New Indian Express  

NEW DELHI: The labour ministry on Monday rebutted a recent report by Citigroup which forecast that India will struggle to create sufficient employment opportunities even with a 7 per cent growth rate. The ministry in a statement said the report "fails to account for the comprehensive and positive employment data available from official sources such as Periodic Labour Force Survey and the Reserve Bank of India's KLEMS data." The recent research report by Citigroup on employment in India, quoted by some of the print and electronic media, forecasts that India will struggle to create sufficient employment opportunities even with a 7 per cent growth rate. The PLFS data shows that during the last 5 years, more employment opportunities have been generated compared to the number of people joining the labour force, resulting in a consistent reduction in the unemployment rate.

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