Revive India’s unorganized sector to raise incomes and tackle unemployment
5 months, 1 week ago

Revive India’s unorganized sector to raise incomes and tackle unemployment

Live Mint  

The release of the Annual Survey of Unincorporated Sector Enterprises by the National Statistical Office fills an important data gap in our understanding of what is happening in the unorganized sector. The net impact of this is that the total number of workers in the unorganized sector has fallen from 111.3 million in 2015-16 to 110 million in 2022-23. While gross value added by the sector increased at 7% per annum in real terms between 2010-11 and 2015-16, it actually declined at 0.5% per annum between 2015-16 and 2022-23. Average emoluments for hired workers in informal enterprises that had such recruits was ₹124,842 per annum, or around ₹10,000 per month.

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History of this topic

Eco Survey 2024: Amid high growth India’s future appears bright, but a ‘grand alliance’ to tame unemployment is required
5 months ago

Eco Survey 2024: Amid high growth India’s future appears bright, but a ‘grand alliance’ to tame unemployment is required

Firstpost  

The survey has also been cautionary about the path of India towards a ‘Viksit Bharat’ in 2047, as it shows how India will face situations unlike what China faced when it was growing at high speed The Chief Economic Advisor to the Government of India prepares the Economic Survey that is presented a day ahead of Budget Day. Content Driven …

India Needs to Create 78.51 Lakh Jobs in Non-Farm Sector: Survey
5 months ago

India Needs to Create 78.51 Lakh Jobs in Non-Farm Sector: Survey

Deccan Chronicle  

New Delhi: The government on Monday asserted that the Indian economy needs to generate around 78.51 lakh jobs annually in the non-farm sector to meet growing demand and population growth. “The Indian economy needs to generate an average of nearly 78.5 lakh jobs annually until 2030 in the non-farm sector to cater to the rising workforce,” said the survey. “Casual …

Economic Survey 2023-24: Economy needs to generate nearly 78.51 lakh jobs annually in the non-farm sector
5 months ago

Economic Survey 2023-24: Economy needs to generate nearly 78.51 lakh jobs annually in the non-farm sector

The Hindu  

India's workforce is nearly 56.5 crore, with more than 45% employed in agriculture, 11.4% in manufacturing, 28.9% in services, and 13.0% in construction, highlights the Economic Survey 2023-24 released by the finance ministry on July 22. It stated, “The female labour force participation rate has been rising for six years, from 23.3% in 2017-18 to 37% in 2022-23, driven mainly …

Centre questions Citigroup’s report on employment in India
5 months, 2 weeks ago

Centre questions Citigroup’s report on employment in India

The Hindu  

The Union Labour Ministry questioned the findings of a report prepared by the United States-based banking giant Citigroup and said the group failed to account for the “comprehensive and positive employment data” available from official sources such as the Periodic Labour Force Survey and the Reserve Bank of India’s capital, labour, energy, material and services data. The Citigroup’s report had …

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 …

Economic Survey 2024: 7.85 million non-farm jobs needed annually till 2030; over 7% fall in unemployment rate
5 months, 2 weeks ago

Economic Survey 2024: 7.85 million non-farm jobs needed annually till 2030; over 7% fall in unemployment rate

Hindustan Times  

The Indian economy needs to generate an average of nearly 78.5 lakh jobs annually until 2030 in the non-farm sector to cater to the rising workforce, according to the Economic Survey for 2023-24. The rising employment of flexi workers through staffing companies can be a channel for ensuring social security for informal workers, it stated. "Consequently, the Indian economy needs …

Terms of Trade | India needs to move beyond the formalisation and welfare narratives
5 months, 2 weeks ago

Terms of Trade | India needs to move beyond the formalisation and welfare narratives

Hindustan Times  

Since demonetisation in November 2016, the current government has been consciously following a policy of pushing formalisation in the Indian economy. In terms of share in overall GVA excluding agriculture and construction, the share of informal sector enterprises has gone down from 12% to 8.2% between 2015-16 and 2022-23. While there are no clear-cut estimates for the sector-wise break-up of …

Why has official Indian data on informal enterprises been kept under wraps?
7 months, 1 week ago

Why has official Indian data on informal enterprises been kept under wraps?

Live Mint  

Barely a week goes by these days without an economist or policy wonk debating India’s growth numbers. Speaking to The Economist recently, India’s former chief statistician Pronab Sen argued that the old GDP series may have captured real growth rates more accurately. In an earlier interview to The Wire, Sen had argued that India’s recent growth numbers were likely to …

Has the growth of India’s economy translated into domestic jobs?
8 months, 2 weeks ago

Has the growth of India’s economy translated into domestic jobs?

Live Mint  

Recently, two international organizations published their assessment of India’s labour market and employment situation. Over the 42 years between 1980-81 and 2021-22, non-farm employment in India grew at a compounded average annual growth rate of 3.16%. As stated in its report, the concern of the World Bank is that the employment ratio in South Asian economies, including India, has declined …

How to create more jobs for India’s educated youth | In Focus podcast
8 months, 2 weeks ago

How to create more jobs for India’s educated youth | In Focus podcast

The Hindu  

The India Employment Report 2024, released recently by the International Labour Organisation, paints a grim picture. The news is particularly bad on two critical counts: joblessness is particularly high among the youth, and its worse for the educated youth. According to the report, India’s youth account for 83% of the unemployed workforce, with the share of the educated youth among …

Can India Ensure Living Wages at a Time When Workers Struggle for Minimum Wage?
8 months, 3 weeks ago

Can India Ensure Living Wages at a Time When Workers Struggle for Minimum Wage?

The Quint  

Recruitment happened through middlemen, the pay was based on piecework, and most workers preferred daily wages to avoid deductions for benefits from their already meagre income of Rs 300. Even though company hostels provided them with shelter, migrant workers were still classified as daily wage earners, receiving no benefits. Although these workers perform industrial work, qualifying them as organised sector …

India’s war on informal labour is turning out bad for workers
1 year, 2 months ago

India’s war on informal labour is turning out bad for workers

Live Mint  

India’s mission to bring its vast workforce into formal jobs is faltering, leaving a majority of non-farm labour in unincorporated businesses. But social-security benefits that are crucial to make labour economically secure remain available to only 54% of a narrow group of people who’re lucky to work for a salary. If it doesn’t, it would become a drag on the …

The rise and rise of white-collar salaried aristocracy in India
1 year, 4 months ago

The rise and rise of white-collar salaried aristocracy in India

Hindustan Times  

There were around 76,000 more so-called crorepatis by income tax returns in 2022-23 when compared to 2021-22. But even more illuminating is the publication of Income Tax Return data – this includes both income tax and corporation tax filings – for assessment year 2019-20, 2020-21 and 2021-22 recently. The Indian economy has seen multiple disruptions such as the Global Financial …

India’s unemployment rate plunges to 7.6% in April-June 2022: NSO survey
2 years, 3 months ago

India’s unemployment rate plunges to 7.6% in April-June 2022: NSO survey

Live Mint  

The unemployment rate in India for people aged 15 years and above in urban areas declined to 7.6 per cent during April-June 2022 from 12.6 per cent a year ago, the National Statistical Office said on 31 August. In January-March 2022, the unemployment rate in India for persons aged 15 years and above was 8.2 per cent in urban areas, …

Looking beyond the joblessness number
2 years, 6 months ago

Looking beyond the joblessness number

Hindustan Times  

Unemployment rates are often looked at as the ultimate measure of a country’s ability to create employment. While they are indeed an important metric as far as the labour market is concerned, there is a need to look beyond the headline unemployment number, especially in the case of emerging market economies such as India. The 2020-21 PLFS report – it …

A hazy picture on employment in India
2 years, 10 months ago

A hazy picture on employment in India

The Hindu  

The two important indicators of structural transformation in any economy are rates of growth and changes in the structural composition of output and the workforce. Also, the unemployment rate in the female labour force in rural areas is far lower than the male labour force, whereas the opposite holds true in urban areas. This is despite the fact that the …

India’s economy and the challenge of informality
2 years, 10 months ago

India’s economy and the challenge of informality

The Hindu  

Since 2016, the Government has made several efforts to formalise the economy. Currency demonetisation, introduction of the Goods and Services Tax, digitalisation of financial transactions and enrolment of informal sector workers on numerous government Internet portals are all meant to encourage the formalisation of the economy. Transformation in Asia The defining characteristic of economic development is a movement of low-productivity …

Total employment in 9 select sectors rises to 3.10 cr in July-Sep 2021
2 years, 11 months ago

Total employment in 9 select sectors rises to 3.10 cr in July-Sep 2021

Hindustan Times  

Total employment generated by nine select sectors stood at 3.10 crore in the July-September 2021 quarter, which is 2 lakh more than that of the April-June period, according to a quarterly employment survey by the labour ministry released on Monday. {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}} The quarterly employment survey report released by Union Labour Minister Bhupender Yadav said that total employment …

Total employment in 9 select sectors rises to 3.10 cr in July-Sep 2021
2 years, 11 months ago

Total employment in 9 select sectors rises to 3.10 cr in July-Sep 2021

Hindustan Times  

Total employment generated by nine select sectors stood at 3.10 crore in the July-September 2021 quarter, which is 2 lakh more than that of the April-June period, according to a quarterly employment survey by the labour ministry released on Monday. The quarterly employment survey report released by Union Labour Minister Bhupender Yadav said that total employment numbers in the nine …

Bitter home truths for migrant workers
3 years, 10 months ago

Bitter home truths for migrant workers

Live Mint  

ARARIA/NEW DELHI : Bergachi Chowk is a busy intersection, a short ride away from Araria town in northern Bihar, an impoverished hub of distress migration. Impact of slowdown View Full Image After completing his graduation in Delhi, Naser Siddiqui returned home to start a garment store instead of scouting for a job Imran’s predicament is shared by several others around …

80% of India's informal workers lost jobs during COVID lockdown, 63% survived on two meals a day, shows data
3 years, 10 months ago

80% of India's informal workers lost jobs during COVID lockdown, 63% survived on two meals a day, shows data

Firstpost  

Government needs to take action regarding job security, social security benefits, food security, health benefits, and safety in the informal sector in such a way that it not only manages the current crisis, but also immunises the sector from future shocks The nationwide lockdown announced on 24 March, 2020, mandated the suspension of all services and establishments with relaxations to …

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